February 2020 sales has contracted for Hyundai India, both in the domestic market, and in exports
However, overall sales decline has been contained at 10 percent. Domestic sales decline was smaller at 7.2 percent. Sales fell to 40,010 units from 43,110 units. Exports fell to under 10 k units. Reported at 8,900 units, exports declined by 22 percent, down from 11,408 units. Cumulative sales stand at 48,910 units, down 10.3 percent from 54,518 units.
The market at present is in the throes of serious slowdown that’s now spanned the better part of the current FY. Despite this, Hyundai has had a mostly successful run. In its renewed approach, the manufacturer is focused on grabbing larger piece of the SUV market. A notion that has been encapsulated in multiple communications from the company in recent months.
|Hyundai India Sales||February 2020||February 2019||Growth (%)|
While Hyundai Venue opened up a whole new market and segment for the manufacturer, its dependable Creta is now ready for a revamp. In its new avatar the vehicle will be launched in mid-March. This has direct impact on Creta sales. While there are now orange of discount offers on the outgoing vehicle, there are does who are more keen about the new launch. The result – uncertain buying dynamics. Launch of new Creta would help Hyundai make up its sales lag from February.
2020 Hyundai Creta gets power fro the engines seen in the already successful Kia Seltos. With the new 1.5 lite engines being the big bet, the current 1.6l engine seen in Creta will be a thing of the past.
Recent launch of Hyundai Aura helps the manufacturer foray into yet another segment. 2020 Hyundai Verna facelift is ready for launch. HMIL has had to adjust production and processes as per BSVI transition that’s mandated from April 1, 2020. The emission norm revision means no BSIV vehicles can be sold in the country post March 31, 2020. As such, manufacturers have had to diligently work around stock and production to ensure their dealer network isn’t left with dead stock post the transition timeline.
Hyundai would be observing the market with hawk eyes now, considering its closest competitor MSIl is going off the diesel bandwagon in a month’s time. This would open up opportunities galore for Hyundai, which has it’s sight set on improving market share. Post Creta, Hyundai will also launch the new gen i20, by July 2020.