Hyundai India reports strong YoY domestic sales growth for June 2022 at 21 percent; sales just shy of 50k units
June has been an active month, where the widely defined UV segment is concerned. And Hyundai has been busy too. Now with the 2022 Hyundai Venue launched mid month, the manufacturer has had plenty of chatter around its newest launch.
Mid-month, even prior to launch, 2022 Hyundai Venue pre-bookings were past the 15k mark. And while the semiconductor situation continues to improve, Hyundai is working round the clock to claw away at its backlog. That number surpasses the 1.3L unit mark. Of these, 25k bookings were for the Venue at the time of launch. So, the company will first clear those. In the meantime, the new launch as per business trends is already on a 3-month wait period schedule.
Hyundai India Sales June 2022 – Regains No 2
Sales in recent months has seen Hyundai India strategize on stable over growth. But June 2022 seems different. Hyundai had lost the No 2 position to Tata Motors in May 2022. They have now regained that in June 2022.
Domestic sales last month were reported at 49k units, up from 40,496 units YoY. Volume gain stood at 8,505 units at 21 percent growth. MoM sales is up from 42,293 units. At 15.86 percent growth, volume gain stood at 6,708 units.
Exports last month were flat at 13,350 units. YoY exports fell 4.49 percent, down from 13,978 units at volume decline of 628 units. Cumulative sales are up at 62,351 units from 54,474 units. Volume gain stood at 7,877 units at 14.46 percent growth.
Tarun Garg, Director (Sales, Marketing & Service), Hyundai Motor India Ltd. said, “With the semiconductor situation showing signs of easing out, the sales numbers have again started showing a positive trend. Further, the newly launched Hyundai VENUE has created excitement in the market space and has been receiving tremendous customer response. With cautious optimism, we will continue to meet and exceed customers’ aspirations towards a happy life.”
In fact for Q2 2022, June domestic sales has been the highest. With the semiconductor supply shortage situation estimated to improve through H2 2022, and the long festive season approaching, the sales space would be an exciting one in the months to come.
3 lakh unit sales in 3 years
Though a popular product of Hyundai’s, the moniker isn’t all that old. But, in a few short years it has breathed vigour into the segment and made the space highly competitive. In May 2022, Venue marked its 3rd year in business. The same month, Venue sales surpassed the 3 lakh units milestone.
For Hyundai, Venue has been a crucial business development product. With the manufacturer keen on a larger share of the widely defined UV segment, Venue has aided with business growth. Not only has it helped boost total company sales, Venue sales comprise a sizable chunk of Hyundai’s UV goals. This same quest has even helped Kia India. With the Venue based Sonet working like a charm and helping Kia enjoy unprecedented brand growth in quick time.