South Korean automobile big Hyundai offered a complete of 44,600 automobiles in India final month, registering a YoY gross sales drop of 15.21 per cent
Within the month of March 2022, Hyundai Motor India Restricted (HMIL) achieved a gross sales determine of 44,600 automobiles within the home market. Whereas a formidable quantity in itself, it is a 12 months-on-12 months (YoY) gross sales decline of 15.21 per cent for the producer, with its March 2021 gross sales determine standing at a complete of 52,600 models because it completed second general.
In February 2022, Hyundai had offered 44,050 autos in India, which interprets to a Month-on-Month (MoM) gross sales development of simply 1.25 per cent final month. Additionally, the automaker’s market share in our passenger automobile market has fallen to 13.9 per cent in March 2022, down from 16.4 per cent throughout the identical month final 12 months.
Hyundai has a various automobile portfolio within the Indian market, consisting of hatchbacks (Santro, Grand i10 Nios, i20, i20 N Line), sedans (Aura, Verna), SUVs (Venue, Creta, Alcazar, Tucson), and EVs (Kona) Electrical). The most important chunk of gross sales is introduced in by Venue and Creta, each of which get pleasure from a really robust demand amongst new automobile patrons.
It ought to be famous that the semiconductor chip scarcity has massively affected automobile manufacturing, which is likely one of the main causes for the South Korean auto main’s falling gross sales in India. The producer had acknowledged earlier that it’s monitoring the semiconductor provide state of affairs carefully, and making all obligatory efforts to greatest meet client demand.
Hyundai is planning to launch just a few new automobiles within the Indian market, together with each conventional (IC engine-powered) automobiles in addition to electrical autos. The brand new-generation Tucson and Venue facelift have been spied testing in our nation, and they’re anticipated to launch right here someday throughout this 12 months. The model will seemingly deliver the Creta facelift and next-gen Verna to our market in 2023.
Hyundai can be anticipated to launch the facelifted Kona EV and Ioniq 5 in our market, seemingly later this 12 months. The latter has additionally been noticed on Indian roads just a few occasions throughout testing. Apart from that, the producer is engaged on an entry-level EV for India, which is purported to debut in 2024.