Hyundai Motor India Ltd. (HMIL) has sealed its position as a frontrunner in the Indian automotive market, closing the curtains on 2023 with a groundbreaking achievement. In a year marked by significant milestones and strategic advancements, Hyundai has exceeded expectations, setting a new benchmark in sales performance.
The numbers speak volumes about Hyundai’s success. With a surge of 9% in domestic sales compared to the previous year, the company marked a historic milestone by surpassing the six-lakh sales mark in CY2023. This remarkable feat, recording sales of 6,02,111 units, reflects a strong 9% increase over the preceding year’s 5,52,511 units. In addition, the export segment witnessed a substantial upswing, elevating by 10% to 1,63,675 units in CY2023 from 1,48,300 units in CY2022.
Closing the year on an exuberant note, December 2023 witnessed a significant spike in sales. Total sales for the month soared to 56,450 units, with 42,750 units contributing to the domestic market and 13,700 units being exported, marking an impressive 10% increase in domestic sales compared to the previous year.
Commenting on this exceptional achievement, Mr. Tarun Garg, COO of HMIL, attributed this success to several factors. He highlighted the significant growth, surpassing industry averages, signifying Hyundai’s resonance with consumers as their preferred automotive brand. Mr. Garg also emphasized Hyundai’s proactive approach to meet escalating demands by expanding production capacity by an additional 50,000 units in 2023.
Beyond sales figures, Hyundai’s commitment to safety and innovation shines brightly. The company standardized six airbags across all models and trims, setting a new standard in mass automobile safety in India. Hyundai’s vehicles continue to receive acclaim for their safety features, with the Hyundai VERNA securing a prestigious 5-star rating from GNCAP. Moreover, the Hyundai EXTER has not only garnered over 1 lakh bookings but has also received praise from both customers and critics alike.
Beyond business achievements, Hyundai is championing a more inclusive society. The ‘Samarth’ initiative, a corporate endeavor supporting differently-abled individuals, reflects the company’s commitment to fostering an inclusive environment. This initiative aligns with Hyundai’s overarching vision of Progress for Humanity.
Mr. Garg reiterated Hyundai’s unwavering commitment to India, promising a continued focus on bringing forth cutting-edge products and technologies that align with the aspirations of their customers. Hyundai is now getting ready to launch the new Creta this month.