Hyundai Motor India Limited’s performance has been quite a show to watch for the past few months as it seems to be unstoppable. Its growth and resilience are visible with its new popular strong SUV, Creta has managed to achieve impressive sales figures. In July 2024, Hyundai Motor India Limited (HMIL) registered a total of 64,513 units sold. Out of these, 49,013 units were sold domestically, while 15,500 units were exported. This brings the total sales for the period from January to July 2024 to 4,50,285 units, showing a year-on-year growth of 4.30%.
SUVs Lead the Way
A significant portion of these sales came from SUVs. They accounted for 66.6% of HMIL’s domestic sales. One of the standout performers was the new Hyundai CRETA. Since its launch in January 2024, the CRETA has sold 1 lakh units up to July 2024. Additionally, it achieved its highest-ever monthly domestic sales of 17,350 units in July 2024.
Company's Statement on Sales Performance
Mr. Tarun Garg, full-time director and Chief Operating Officer of HMIL expressed his satisfaction with the company's performance. He highlighted the overall sales growth of 4.30% year-on-year for the January to July period. Mr. Garg attributed a significant part of this success to the strong performance of SUVs, particularly the new Hyundai CRETA. He noted that the CRETA had achieved key sales milestones and record monthly sales in July.
Comparative Sales Data
Comparing the sales data from July 2023 to July 2024, there was a slight decrease in numbers. Domestic sales in July 2023 were 50,701 units, which is 3.33% higher than the 49,013 units sold in July 2024. Exports also saw a slight dip from 16,000 units in July 2023 to 15,500 units in July 2024, a decrease of 3.13%. Despite this, the year-to-date (YTD) sales from January to July showed a positive trend. Domestic sales grew by 3.48%, from 3,46,711 units in 2023 to 3,58,785 units in 2024. Export sales increased by 7.62%, from 85,020 units in 2023 to 91,500 units in 2024.
To summarize, Hyundai Motor India Limited has shown resilience and growth in a competitive market. With the strong performance of its SUVs, especially the new Hyundai CRETA, the company has managed to achieve impressive sales figures. Despite minor declines in monthly sales comparisons, the overall growth trend from January to July 2024 reflects the company's robust market presence and strategic success. Potential investors and market watchers will be keen to see how HMIL continues to perform in the coming months, particularly as it navigates market conditions and prepares for an initial public offering of its equity shares.
Note: The information is from a press release sent to us by the manufacturer. Park+ is not responsible for any inconsistencies and inaccuracies in the above data.
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