In a race to topple Maruti Suzuki India, Hyundai India have announced a major stepping stone. The second largest Indian car manufacturer has surpassed the 4 million domestic sales mark. The South Korean brand achieved this milestone in 19 years, while Maruti took 20 years to achieve the same feat.
A major contributor to these 4 million domestic sales has been Hyundai Santro which was discontinued in January 2015, contributing to 65% sales. Hyundai’s i10 was also a noteworthy contributor from among current models in production with a total of 800,000 units while Grand i10 saw sales to the tune of 250,000 units. Hyundai i20 Elite and the Active i20 have together contributed 150,000 units. Yes, the new i20 has now crossed the 1.5 lakh sales mark.
Of a total of 2.6 million passenger vehicles sold in India during FY15, 1.17 million units were sold by Maruti Suzuki while 420,668 unit sales were contributed by Hyundai Motors during the same period. Hyundai Motors, the largest exporter of passenger vehicles in the country, currently operates from two plants in Chennai with total capacity of 680,000 units per annum. A third plant is also in the offing which would considerably add to company growth in the future.
The period April to October 2015 has seen sales of Hyundai Motors increase 16% while market share has also increased from 16.17% in FY15 to 17.44% during the period April to October prompted by increased demand for both Creta and Elite i20. The company has also reduced its export initiatives due to increased domestic sales while exports to Europe have been completely stopped following the European market moving upto Euro VI emission norms in September 2014.
Commenting on the 4 million domestic sales milestone, Mr. YK Koo, MD, HMIL said, “Hyundai today is a 10 product strong brand with class leading products from the Eon to Santa Fe. Hyundai has since inception focussed on make in India products, made for the world. Hyundai the largest exporter and the largest premium car manufacturer in India catering to the growing needs and demands of the aspirational Indian customer. Hyundai has witnessed success as the fastest growing sales milestone and we assure our commitment to the Indian car market.”
Commenting on the strong sales performance and brand success, Mr. Rakesh Srivastava, Sr. Vice President, Sales & Marketing, HMIL said, “We are overwhelmed with the customer’s response by receiving unprecedented 150,000 domestic sales for the Elite i20. This reflects the strong customer connect and confidence on Hyundai products. We thank customers, channel partner, employees and media who have chosen our product Elite i20 making it as a super performer brand in India and who have contributed to this landmark achievement.”