Hyundai Motors India Limited is the second-largest carmaker in the country and has held onto that spot for a long time now.
As per the latest data, Hyundai India has achieved some incredible sales this festive season. The Korean car marque has announced the results for the festive season 2022. The results look promising as the industry gets back on its feet after a long slump in demand and manufacturing in the wake of the pandemic. Thereafter, the supply chain issues and semiconductor chip shortage affected the manufacturing and deliveries of the vehicles. Nevertheless, the sales picked up in 2022 and are reflected in the final results.
Hyundai Motors India Sales
Hyundai announced that it was able to deliver approximately 65,000 cars from the 1st Navratri until the end of the festivals. That is already a 20% increase in sales over the same period in 2021. This proves that the growth has not just been witnessed by Hyundai but throughout the industry. In addition to that, the cumulative sales back in CY2018 stood at a whopping 550,002 which was the highest ever recorded in India. But Hyundai feels confident about breaking that long-standing second in CY2022.
The chief contributors to Hyundai’s growing sales and market share include the Grand i10 Nios hatchback, Creta mid-size SUV, Venue compact SUV, i20 premium hatchback and Alcazar 7-seat SUV among others. Such an ambit of products ensures that the entire market is accessible for Hyundai irrespective of the segments and price points. In a bid to keep the portfolio fresh and appealing, the Korean carmaker has already introduced updated versions of its popular cars.
Going forward, the strategy seems pretty straightforward as well. The plan is to launch more new vehicles and the focus will also shift toward electrification. Currently, Hyundai is selling the KONA electric SUV in or market (but not so successfully). The Ioniq 5 is the next product that will take this EV wave forward. We might also see more affordable electric cars in the future. What are your thoughts on the sales of Hyundai in India over the years and going forward?