Hyundai May 2023 Sales Report – YoY Domestic Growth and Export Expansion
Hyundai May 2023 sales are reported at 48,601 units, representing a growth of 14.91 percent. In May 2022, HMIL sold 42,293 units in the domestic market. This increase in sales volume amounts to a difference of 6,308 units. However, despite overall positive growth, there was a decline of 1,100 units in sales volume when comparing April 2023 (MoM). MoM sales fell from almost 50k units. It’s worth noting that although there was a decline in sales from April 2023 to May 2023, the year-on-year growth remains strong.
Growth could be attributed to factors such as new product launches, marketing initiatives, and customer preferences. Furthermore, Hyundai Exter CUV/ small car bookings are now open.
Hyundai’s Exports Grow in May 2023: A Global Triumph
Regarding exports, Hyundai experienced a substantial increase in sales volume. In May 2023, they exported 11,000 units, showcasing significant growth of 22.63 percent compared to May 2022. A year earlier, HMIL exported 8,970 units. This accounts for a difference of 2,030 units. The higher growth rate in exports indicates demand for HMIL vehicles in international markets.
HMIL has always been successful in fostering its presence globally and catering to the preferences and requirements of overseas customers. Expansion plans include a dedicated focus on EVs and EV production expansion, as well as acquiring a new plant.
Hyundai India May 2023 Sales: A Blend of Domestic and Export Success
When considering the total sales volume, Hyundai May 2023 sales total stands at 59,601 units in May 2023. This represents growth of 16.27 percent compared to May 2022 when they sold 51,263 units. And indicates a difference of 8,338 units. Cumulative growth showcases the combined performance of HMIL in both the domestic and export markets. Current numbers represent strong market presence and customer demand.
Overall, the sales volume differences demonstrate a positive trajectory for HMIL. The company has experienced growth in both domestic and export markets, with a higher growth rate observed in exports. It should be noted, exports volume is noticeably smaller than that of domestic sales. This indicates that HMIL continues to be successful in capitalising on international market opportunities while also maintaining its stronghold in the domestic market.
Hyundai’s Success through New Launches – Verna, and Now Exter
Growth in sales volume can be attributed to various factors, including product quality, brand reputation, competitive pricing, and effective outreach strategies. HMIL’s ability to adapt to changing market dynamics and customer preferences is a winner. And continues to drive its success in driving sales and expanding its market share/ sales growth.
Tarun Garg, COO, Hyundai Motor India Ltd. said, “We are glad to announce a healthy double-digit sales growth for the month of May 2023 fuelled by our blockbuster SUVs, Hyundai Creta and Hyundai Venue. The recently launched all-new Hyundai VERNA again clocked strong numbers, while Hyundai EXTER, our soon-to-be-launched SUV, continues to ramp up excitement amongst customers in the SUV space.”
