Hyundai Motor India Limited (HMIL) reports YoY sales growth for June 2024. Total sales reached 64,803 units. As always, domestic sales contributed significantly with 50,103 units, while exports accounted for 14,700 units. Numbers highlight HMIL’s strong market presence and strategic approach in balancing/growing domestic and international demand.
In H1 CY2024, HMIL achieved a total sales volume of 385,772 units, marking a 5.68 percent year-on-year growth. This growth reflects the company’s successful market strategies and the sustained popularity of its vehicle lineup, particularly SUVs, which have become a dominant force in the domestic market. SUVs contributed to 66 percent of domestic sales, showcasing their numero uno role in HMIL’s portfolio.
Hyundai Creta remains is a standout performer. In H1 CY2024, sales reached 91,348 units, showing an impressive 11 percent year-on-year growth. This growth puts in focus the model’s strong market appeal. As expected, Creta’s popularity continues to drive sales momentum in the competitive SUV segment.
Comparing domestic sales year-on-year, HMIL sold 50,103 units in June 2024, slightly up from 50,001 units in June 2023. Indicating a 0.20 percent growth. Unit diff is at 102 units. MoM sales were up 952 units at 1.94 percent from 49,151 units sold in May 24. Over H1 CY2024, domestic sales totalled 309,772 units, compared to 296,010 units in H1 CY2023, reflecting 4.65 percent growth. Sales was up by 13,762 units. The first half of 2024 has been a period of consistent demand in the domestic market, bolstered by the company’s strong brand reputation and diverse vehicle offerings.
On the export front, HMIL faced challenges in June 2024, with export sales declining to 14,700 units from 15,600 units in June 2023, representing a 5.77 percent decrease. Export fell by 900 units. However, H1 CY2024 saw exports rise to 76,000 units, a 10.11 percent increase from 69,020 units in H1 CY2023. Exports for the period are up by 6,980 units. Growth indicates HMIL’s resilience and ability to capture new markets despite short-term fluctuations.
Total sales in June 2024 saw a slight decline to 64,803 units from 65,601 units in June 2023, reflecting a 1.22 percent decrease. Unit sales fell by 798 units. However, the overall sales performance for H1 CY2024, with 385,772 units compared to 365,030 units in H1 CY2023 made for a solid 5.68 percent growth. That’s 20,742 units more in the past 6 months. HMIL’s strategic success in navigating market challenges and capitalising on growth opportunities. Is second to none.
Hyundai sales indicate a balanced approach to domestic and export markets. The company’s ability to maintain sales momentum is backed by the strong appeal of its vehicle lineup. HMIL, a leading player in the Indian automotive industry is well poised to meet consumer demands and drive overall sales growth.
Tarun Garg, COO, Hyundai Motor India Limited said, “We closed H1 of CY2024 with an overall sales growth of 5.68% Year-on-Year. SUVs have contributed strongly, accounting for 66% of our domestic sales. The new Hyundai Creta has been a key driver for Domestic H1 sales with 91,348 units sold, a growth of 11% over same period last year.”