Hyundai Motors India Limited (HMIL), the 2nd best-selling automaker in India after Maruti Suzuki sales in April 2024 improved marginally in domestic markets while the company has recorded outstanding growth in exports. Total sales (domestic + exports) stood at 63,710 units in April 2024, up 9.5% as against 58,201 units sold in April 2023. It was however a de-growth on a MoM basis as total sales had stood at 65,601 units in March 2024.
Hyundai sold a total of 50,201 units in domestic markets in April 2024. This was a marginal 1% growth over 49,701 units sold in April 2023. MoM sales however dipped by 5.28% from 52,001 units sold in March 2024 relating to a 2,800 unit volume de-growth. In the domestic market the company sells models such as the Grand i10 NIOS, Aura, i20, Exter, Creta, Verna, Alcazar, Tucson, etc with the SUV lineup Creta, Venue and Exter commanding the most attention.
Exports on the other hand saw tremendous growth both on a YoY and MoM basis. Total exports stood at 13,500 units in April 2024, a 58.8% YoY growth over just 8,500 units shipped in April 2023. MoM exports also improved over 12,600 units shipped in March 2024.
Taking the 4 month period January to April 2024 into account, the company has seen significant growth both in terms of domestic sales and exports. Total sales during the said period stood at 2,57,418 units, up 7.33% from 2,39,828 units sold in the same period in 2023. This related to a volume growth of 17,590 units.
In domestic markets, the company sold 2,10,518 units during the January to April 2024 period, a 6.64% improvement over 1,97,408 units sold in the same period of the previous year. Exports saw even greater growth by 10.56% from 42,420 units shipped in the January to April 2023 period to 46,600 units in the same period of 2024. This related to a 4,480 unit volume growth.
In April 2024, Hyundai added fresh safety features to its portfolio. It became the first automaker in India to introduce a total of 6 airbags as standard across its entire portfolio right from it smaller models like the Grand i10 NIOS, Aura, and Exter to its Venue, Creta, Verna, Alcazar, etc. Hyundai Venue is the first sub 4 meter SUV to come with ADAS.
Recently, Hyundai announced plans to start production of their first electric SUV at Chennai plant from end 2024. It is likely to be Creta EV, which will make its global debut early next year. Hyundai Group also has plans to produce 15 lakh cars per annum in India.