After hitting best-ever domestic market monthly sales of 57,118 units in January 2024, Hyundai Motor India has reported February 2024 numbers of 50,201 units, up 7% year on year (February 2023: 47,001 units) but down 12% month on month.
Demand for the company’s overall passenger vehicle range continues to be powered by the Creta midsize SUV and the recently launched Exter compact SUV. Like the other leading PV makers in India, SUVs are the key growth drivers for Hyundai whose SUV line-up comprises the Creta, Venue, Alcazar, Exter and the Tucson along with the Ioniq 5 and Kona electric SUVs.
The new Creta, which was launched in mid-January 2024, accounted for 15,276 units or 30% of total Hyundai dispatches in February. This, according to Tarun Garg, COO, Hyundai Motor India, “is the highest ever monthly sales recorded by ‘Brand Creta’ since its inception in India more than 8 years back in 2015.”
February 2024 saw the Creta surpass the one-million sales milestone since the midsize SUV’s launch in July 2015, news which Autocar Professional broke in its sales analysis on February 18. Priced at Rs 11 lakh, the new Creta costs Rs 80,000 more than the pre-facelift model and has already received over 60,000 bookings.
Meanwhile, in an effort to further up the ante for the Creta, Hyundai Motor India has opened bookings for the upcoming Hyundai Creta N Line.
Hyundai numbers would also have gained from demand for the Exter compact SUV, which has received over 100,000 bookings, which is creditable given that this new model is part of an ultra-competitive sub-segment.
Hyundai, which clocked best-ever sales of 567,546 units in FY2023, is just 5,823 units shy of that and is poised to clock 600,000-plus sales in FY2024.
Driving towards 600,000 milestone for the first time in a fisal
Riding on the strong demand coming its way, courtesy the booming SUV market, Hyundai Motor India is well set to clock another fiscal of record growth. The company, which had clocked best-ever fiscal year sales of 567,546 units in FY2023 is, at the end of February 2024, poised to drive past that number soon.
Between April 2023 and February 2024, the car and SUV manufacturer has dispatched a total of 561,723 units, up 9% on the year-ago period’s 516,946 units. At present, it is just 5,823 units shy of the record FY2023 total. This is the second fiscal on the trot that Hyundai has surpassed the half-a-million milestone and should hit the 600,000 wholesales milestone in the domestic market for the first time in FY2024.
