Hyundai Motor India has opened CY2024 on a very strong note, having registered its best-ever monthly wholesale numbers in January. At 57,118 units, January 2024 sales are a strong 14% year-on-year increase (January 2023: 50,106 units).
Demand for the company’s 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 driving strong growth for Hyundai whose SUV line-up comprises the Creta, Venue, Alcazar, Exter and the Tucson along with the Ioniq 5 and Kona electric SUVs. What would have helped drive up numbers in January was the launch of the new Creta on January 16. Priced at Rs 11 lakh, the new Creta costs Rs 80,000 more than the pre-facelift model and has already received close to 50,000 bookings since January 2.
What has also helped Hyundai’s sustained growth trajectory in the past seven months is the launch of the Exter compact SUV at an aggressive price of Rs 599,000. Demand for the feature-laden Exter has been strong – the SUV has received over 100,000 bookings, which is creditable given that this new model is part of an ultra-competitive sub-segment.
Commenting on the January sales numbers, Tarun Garg, COO, Hyundai Motor India said, “Hyundai Motor India has begun 2024 on a rousing note, achieving its highest ever monthly domestic sales of 57,115 units with 14% growth. This strong growth has been fuelled by an overwhelming customer response to the new Creta, which has already garnered close to 50,000 bookings. Going forward, we continue to be cautiously optimistic about the momentum of the auto industry in 2024.”
Sales cross half-a-million units in first 10 months of FY2024
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 January 2024, poised to drive past that number soon.
Between April 2023 and January 2024, the car and SUV manufacturer has dispatched a total of 511,522 units, up 9% on the year-ago period’s 469,945 units. At present, it is 56,024 units shy of the FY2023 total. This is the second fiscal on the trot that Hyundai has surpassed the half-a-million milestone.
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