Hyundai Motor India has posted a YoY and MoM growth in January 2023 with growth seen across domestic and export markets
Hyundai Motor India Limited (HMIL) has seen increased demand in the past month relating to higher domestic sales and exports. The company’s top performers continued to be SUVs such as the Tucson, Creta, Venue, Alcazar while the Kona Electric also brought in good sales.
Hyundai Sales Jan 2023
HMIL has posted a YoY growth of 13.82 percent to 50,106 units in Jan 2023. This was over 44,022 units sold in Jan 2022 relating to a 6,084 unit volume growth. MoM sales improved by 29.04 percent or 11,275 units from 38,831 units sold in Dec 2022.
It may be recalled that Tata Motors replaced Hyundai as No. 2 automaker in India after Maruti Suzuki in December 2022. That time, Tata Motors sales exceeded that of Hyundai by about 1,200 units. In Jan 2023, Hyundai has regained the No 2 position in the domestic market as Tata sales last month are at 48k.
Exports also improved on a YoY basis by 29.40 percent to 12,170 units in Jan 2023 from 9,405 units shipped in Jan 2022. This took total sales (domestic + exports) up to 62,276 units in Jan 2023, up 16.56 percent or 8,849 units when compared to 53,427 units sold in Jan 2022.
New Hyundai Lineup Planned
Hyundai Motor India launched the new Aura facelift last month. It is priced from Rs 6.29 lakh to Rs 8.72 lakh for petrol variants while its CNG counterparts come in at starting price of Rs 8.1 lakh and Rs 8.87 lakh (all prices ex-showroom).
The new Aura gets first in segment features that allow it to compete efficiently with the Maruti Suzuki Dzire, Tata Tigor and Honda Amaze which could also relate to increased sales in the months ahead.
HMIL will next launch the new 2023 Venue facelift and N Line. These will be introduced with a host of exterior and interior updates along with extensive safety equipment. Hyundai has also introduced some cosmetic updates to the Grand i10 NIOS which gets an RDE compliant petrol and petrol + CNG engine lineup.
Hyundai Genesis GV80 has also been spied on test in India. This is a luxury SUV that rivals the likes of Mercedes-Benz GLE, Audi Q7, BMW X5 and Volvo XC90. It is expected to be launched in India this year.