Thus far, it appears that HMI’s entry into the Indian automobile market has been successful. After only 14 months, HMI began to make profits. By May 2000, production output exceeded 100,000 passenger cars. Accordingly, HMI’s market share had grown rapidly from its initial entry into the Indian market in late 1998. In its first year of production, HMI accounted for only 2.2 per cent of the market. This figure climbed significantly to 11 per cent in 1999 and to 14 per cent in 2000. At the same time, Toyota-Maruti, the dominant local auto maker (a joint venture between Toyota and Maruti, a national corporation of India), was losing ground with market share declining from 82 per cent in 1998 to 55 per cent in 2000.