Hyundai Creta – A Winning Proposition for HMIL with Strong Sales and Market Growth – 15,037 units sold in January 2023
Hyundai Creta continues to be a winning proposition for manufacturer. As sales rise, so does total sales revenue, and market size. Customer demand for Creta is clear with strong sales numbers. January 2023 saw Creta sales reported at 15,037 units, a significant milestone for HMIL. It’s highest ever. Maintaining this momentum could lead to even higher monthly sales.
Hyundai reported domestic sales at 50,106 units last month. Creta accounted for 30.54 percent of total sales. This compact UV segment is popular in India. In recent times, total segment volume size is close to 35k units a month. In its segment, Creta takes on Grand Vitara, Seltos, HyRyder, Taigun, Kushaq and Astor. And Creta leads the sales chart by miles. And often accounts for at least 30 percent of total segment sales. It’s worth noting that Tata Motors doesn’t yet operate in this segment.
Hyundai Creta closes in on next sales milestone – 10 lakh units
June 2022 recorded the highest monthly sales of the year with 13,790 units sold. The strongest quarter of 2022 was Q3 (July to September). With a total of 38,068 units sold, average monthly Creta sales were as high as 12,689 units. First-gen Creta sales were reported at 4,67,030 units between June 2015 to February 2020. For the period, flat average sales are calculated at 8,340 units/month.
Second-gen Creta has been sold since March 2020. And, sales have continued to grow. Flat average sales to date is calculated at 10,920 units/month at 3,71,267 units to date. However, as per last year’s reports, total Creta sales were 1,40,895 units. And that equated to average monthly sales of 11,741 units. Venue followed closely at 1,20,703 units.
Early in August 2020, HMIL reported a milestone for Creta at 5 lakh units sold. Overall, 2nd-gen Creta has shown growth in sales compared to the first-generation Creta at about 30 percent. At higher monthly average sales and higher total number of units sold, the 10 lakh Creta sales milestone is likely to be achieved much sooner. Since June 2015, Hyundai Motor India Limited (HMIL) has sold a total of 8.3 lakh units of Creta UVs. This week, the manufacturer announced a price hike for Creta at up to Rs 45k with 6 airbags as standard.
Compact SUV sales 2022
Creta sales were at 1.4 lakh units, Seltos at 1.01 lakh. Together, the Koreans had sold over 2.42 lakh units, with almost 70% market share.
Will their share decline in 2023? pic.twitter.com/dDMhUbzV3G
— RushLane (@rushlane) January 28, 2023
HMIL rural sales contribution on CY2022 stands at over 1 lakh units
For 2022, domestic Creta sales represented 25.43 percent of total HMIL domestic wholesales (5,52,511 units). Between CY2019 – CY2022 an impressive 17 percent growth has been reported in rural markets for HMI. This growth can be attributed to the increasing demand for Grand i10 NIOS, Creta and Venue. Rural sales benchmark of 1,00,000 plus unit sales in CY2022 highlights the strong purchasing power of rural customers.
Rural markets displayed remarkable similarity to urban counterparts when it comes to vehicle preferences. Creta and Venue are the most sought-after models. This positive growth trend in the rural market is a clear indication of HMI’s ability to cater to a broad customer base.
HMI has increased its rural manpower to 5,000 plus in CY’22
Tarun Garg, Chief Operating Officer, HMIL said, “The addition of the 100th Mobile Service Van in the network is an effort towards strengthening HMI’s commitment to its customers and valuing their precious time to offer easily accessible aftersales solutions. We are confident that Hyundai’s growing rural network of 600+ outlets with 97% Service facilities availability will act as a catalyst in enhancing customer peace of mind and inducing customer delight. As upcountry customers demand more attention & care, HMI has increased its rural manpower to 5,000 plus in CY’22.”
Alongside Hyundai’s ever-increasing presence in rural markets, improvement in road infrastructure and increase in agricultural income in rural areas have led to the growth in Hyundai car sales in these markets. With better roads, people in rural areas have greater access to transportation, allowing them to travel more easily to work, school, and other destinations. Additionally, increased income from agriculture helps boost disposable income to spend on purchases like cars. As a result, folks may be more likely to purchase vehicles.
