Hyundai Records Strong Growth in May 2024 with SUV Sales Leading the Way
Gurugram | June 01, 2024: Hyundai Motor India Ltd. (HMIL) reported robust sales figures for May 2024, registering a total of 63,551 units sold. This total comprises 49,151 units in domestic sales and 14,400 units in exports. The overall sales mark an increase of 6.63% compared to May 2023.
Commenting on the performance, Tarun Garg, COO of Hyundai Motor India Ltd., stated, “We have maintained a healthy total sales volume in May 2024, despite a week-long routine bi-annual maintenance shutdown at our Sriperumbudur factory. SUVs continue to be a growth driver for HMIL, accounting for more than 67% of domestic sales last month. Our rural penetration stood at a healthy 20.1% in May.”
Sales Breakdown:
| Category | May 2024 | May 2023 | % Growth | YTD (Jan-May 2024) | YTD (Jan-May 2023) | % Growth |
|---|---|---|---|---|---|---|
| Domestic | 49,151 | 48,601 | 1.13% | 2,59,669 | 2,46,009 | 5.55% |
| Exports | 14,400 | 11,000 | 31% | 61,300 | 53,420 | 15% |
| Total | 63,551 | 59,601 | 6.63% | 3,20,969 | 2,99,429 | 7.2% |
Key Highlights:
- SUV Sales: The SUV segment remains a key driver of HMIL’s domestic sales, contributing 67% of the total domestic volume.
- Rural Market Penetration: Rural sales accounted for 20.1% of HMIL’s domestic sales in May 2024.
- Export Growth: HMIL saw a significant 31% increase in exports compared to May 2023.
About Hyundai Motor India Limited
Hyundai Motor India Limited (HMIL), a wholly-owned subsidiary of Hyundai Motor Company (HMC), aligns with HMC’s global brand vision of ‘Progress for Humanity’ by adopting sustainable and green manufacturing operations. HMIL offers mobility solutions with industry-leading technology.
As of April 30, 2024, HMIL operates a network of 1,372 sales points and 1,557 service points across India. HMIL’s diverse model line-up includes popular models such as the Grand i10 NIOS, i20, i20 N Line, AURA, EXTER, VENUE, VENUE N Line, VERNA, CRETA, CRETA N Line, ALCAZAR, TUCSON, and the all-electric SUV IONIQ 5. The manufacturing plant near Chennai is optimized to produce the full range of vehicle models, cementing HMIL’s role as a critical part of HMC’s global export hub, with exports spanning Africa, the Middle East, and neighboring countries such as Bangladesh, Nepal, Bhutan, and Sri Lanka.
Hyundai Motor India continues to demonstrate strong performance, driven by the growing demand for SUVs and a solid presence in both urban and rural markets.
