Hyundai India is confident of sustaining the strong momentum in the coming months, thanks to the soon-to-be-launched new i20
The festive season rush, rise in customer preference for private transport and the pent up demand due to inactivity in the prior months have given Hyundai India a significant boost in its October 2020 sales performance.
In fact, the country’s second largest automaker registered its highest ever domestic monthly sales last month! Hyundai’s excellent recovery from the ongoing crisis is in line with the general trend in the Indian automotive market for October 2020.
Hyundai India October 2020 sales
The South Korean automaker registered a domestic sales performance of 56,605 units last month as against previous October’s tally of 50,010 units at a YoY growth of 13.2%. This performance bettered the company’s previous record monthly sales of 52,001 units which came in October 2018.
While we wait for the product-wise sales-split, we expect the New Creta to have driven the record sales. The mid-premium crossover has been topping the SUV sales chart for the last few months. Hyundai also offered significant discounts on its other products including benefits of up to INR 75,000 off certain variants of Elite i20 in a bid to deplete inventory. The all-new Hyundai i20 is scheduled to be launched on November 5.
Hyundai India exports
Hyundai India has been the country’s leading exporter for cars since its inception and it continued its status quo last month by shipping 12,230 units. The cumulative sales stood at 68,835 units.
The pandemic-driven logistical problems and slowdown in destination markets have resulted in a degrowth in export of 10.1% compared to October 2019. Export operations are expected to continue experiencing some pressure in the coming as well as various countries are struggling with the second wave of COVID-19.
New Hyundai i20 and its outlook
The Hyundai i20 which has been one of the best selling cars in the country for a long time is all set to graduate to a new generation later this week. With a complete design overhaul inside out, modern features and a new engine, the premium hatchback is poised to give its rivals a proper run for their money, boosting Hyundai India’s already strong sales momentum in the process.
Bookings for the new i20 have already commenced in full swing across the country and if the nameplate’s brand recall is anything to go by, we expect it to be already sitting on over 10,000 bookings on its launch day. The car will rival the ageing segment leader Maruti Baleno in addition to Tata Altroz which has been gaining popularity steadily, Honda Jazz, and the obsolete yet enthusiast’s favourite, VW Polo.
