Hyundai Motor India Limited (HMIL) has once again demonstrated its market dominance by achieving its highest-ever yearly domestic sales, registering 6,05,433 units in CY 2024, a 0.55% increase over 6,02,111 units in CY 2023. This marks the third consecutive year of record domestic sales for Hyundai, underscoring its growing foothold in the Indian automotive market.
Key Highlights of CY 2024
Total Sales (Domestic + Export): HMIL recorded 7,64,119 units in CY 2024, a slight decline of 0.22% compared to 7,65,786 units in CY 2023.
Export Performance: The company exported 1,58,686 units, down by 3.05% from 1,63,675 units in the previous year.
SUV Contribution: SUVs contributed a record 67.6% to Hyundai’s domestic sales in CY 2024.
CNG Contribution: CNG models made up 13.1% of Hyundai’s domestic sales, reflecting growing customer preference for fuel-efficient alternatives.
The Hyundai Creta SUV continued to lead the charge, achieving its highest-ever domestic sales of 1,86,919 units, reaffirming its position as a customer favourite.
December 2024 Sales Overview
In December 2024, Hyundai recorded total sales of 55,078 units, comprising 42,208 domestic units and 12,870 export units. While domestic sales saw a marginal decline of 1.27% compared to 42,750 units in December 2023, export sales dropped by 6.06%, down from 13,700 units last year.
Q4 2024 Sales Performance
For Q4 2024, Hyundai’s total sales stood at 1,86,408 units, reflecting a 2.39% decline compared to 1,90,979 units in Q4 2023. This included:
Domestic Sales: 1,46,022 units (down 0.89% from 1,47,329 units in Q4 2023).
Export Sales: 40,386 units (down 7.48% from 43,650 units in Q4 2023).
Performance Analysis
Despite minor declines in export sales, Hyundai’s domestic market success continues to drive the company’s growth. Key factors contributing to this success include:
Hyundai Creta’s Dominance: Creta maintained its leadership position, achieving the highest-ever domestic sales for a single year at 1,86,919 units.
Focus on SUVs: The growing demand for Hyundai’s SUV lineup significantly contributed to its overall sales performance.
CNG Adoption: With CNG contributing over 13% to domestic sales, Hyundai capitalized on shifting consumer preferences.
Commenting on HMIL sales, Mr. Tarun Garg, Whole-time Director and Chief Operating Officer, Hyundai Motor India Limited said, “HMIL has managed to sustain sales momentum in 2024, despite strong headwinds faced by the industry at large. Achieving highest ever domestic sales three years in a row, reflects customers’ preference for brand Hyundai as their trusted smart mobility solutions provider. Introduction of the innovative Hy-CNG Duo technology in 2024 resonated well with buyers, translating to the highest ever CNG contribution of 13.1% to HMIL’s domestic sales in CY 2024, against 10.4% in CY 2023. By achieving highest ever yearly domestic sales of 1,86,919 units, Hyundai CRETA continued to strengthen HMIL’s position as an SUV leader, helping HMIL accomplish highest ever domestic SUV contribution of 67.6% in CY 2024. We are confident that the upcoming CRETA Electric, will further expand the appeal of this Undisputed, Ultimate SUV.”
