Hyundai Motor India reported strong YoY sales in March 2023 with domestic sales and exports both posting positive growth
Hyundai Motor India has had a successful year with strong growth reported for its model lineup. The company registered its highest ever domestic sales of 5,67,546 units in FY 2022-23 relating to a YoY growth of 17.9 percent. This was against 4,81,500 units sold in FY 2021-22. FY 2022-23 saw Hyundai Motor India introduce many new products among which were the Tucson, new Venue, electric Ioniq 5, facelifted Grand i10 NIOS / Aura and new gen Verna – each targeting a different segment of buyers in the country.
Exports also improved in the period FY 2022-23 by 18.4 percent to 1,53,019 percent up from 1,29,260 units sold in FY 2021-22. This took cumulative sales to 7,20,565 units in FY 2022-23, an increase of 18 percent when compared to 6,10,760 units sold in FY 2021-22.
Hyundai Sales March 2023
In March 2023, the company sold a total (domestic + exports) of 61,500 units. This was an 11.2 percent growth when compared to total sales of 55,287 units sold in March 2022. In domestic markets, sales stood at 50,600 units in March 2023.
This was up 13.45 percent when compared to 44,600 units sold in March 2022 relating to a 6,000 unit volume growth. It was also a MoM growth of 7.73 percent as against 46,968 units sold in Feb 2023. Exports on the other hand improved by 1.99 percent YoY to 10,900 units in March 2023 from 10,687 units exported in March 2022.
Taking into account Q1 2023 sales, Hyundai Motor India sold 1,47,674 units in the said period. This was an 11.31 percent growth from 1,32,672 units sold in Q1 2022 while it was an increase of 12.47 percent when compared to sales of 1,31,305 units sold in Q4 2022.
Hyundai SUVs in demand – Creta Waiting Period stretches to 32 weeks
Following high demand for models such as the Creta, New Venue, Alcazar, Tucson, Aura and Grand i10 Nios, waiting period has stretched upto 24 weeks for the petrol variant and upto 32 weeks for the Creta diesel. It was the best-selling passenger car and best-selling compact SUV in the past month. Facelifted Creta as well as Creta EV are planned for launch in India.
Waiting period for the Alcazar extends to 16 weeks while the i20 premium hatchback has a waiting period of 16 weeks. The i10 NIOS commands a 20 week waiting period while Venue is at 32 weeks and Aura at 14 weeks depending on variant. 2023 Verna mid-size sedan deliveries have started. It comes in with new design, feature updates, several first in segment features and a powerful turbo petrol engine lineup.