Hyundai Hits Record Sales in India, Surpasses 7 Lakh Units in FY 2023-24

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Hyundai Motor India Ltd. (HMIL), achieved its highest sales ever in the financial year 2023-24, selling 7.77 lakh units. This represents an 8% increase compared to the previous year.

Domestic Sales and Exports Rise

In India, Hyundai sold 6.14 lakh cars, growing by 8.3% from last year. The company’s exports also saw growth, with 1.63 lakh units sold, a 6.7% increase year-on-year.

In March 2024 alone, Hyundai’s sales reached 65,601 units, including 53,001 units sold in India and 12,600 units exported, showing a 7% rise from March 2023.

New Models Boost Sales

The increase in sales was supported by the launch of new models and updates to existing cars. Models like the EXTER, new CRETA, CRETA N LINE, new i-20, and the addition of Advanced Driver-Assistance Systems (ADAS) in the Hyundai VENUE and VENUE N Line were key to this year’s success.

Tarun Garg, COO of Hyundai Motor India Limited, mentioned, “The FY 23-24 sales figure reflects the strong acceptance of our varied product range by the customers.” He also noted the recognition of models such as the EXTER, VERNA, and IONIQ 5 by the automotive media, which collectively won over 50 awards for Hyundai in this financial year.

Future Outlook

Hyundai Motor India is looking to keep up its sales momentum into the 2024-25 financial year, focusing on offering more value and new options to customers.

Significance for the Auto Industry

Hyundai’s record sales indicate a healthy demand for cars in India, showcasing the company’s strong position in the market. This performance is a positive sign for the auto industry, suggesting growth and a keen interest in new, technologically advanced vehicles among consumers.

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