South Korean car giant Hyundai sold a total of 44,600 cars in India last month, down 15.21 percent year on year.
As of March 2022, Hyundai Motor India Limited (HMIL) had sold 44,600 vehicles in the domestic market. While this in itself is an impressive number, it is down 15.21 percent year-over-year (YoY) sales for the manufacturer, which stands at a total of 52,600 units in March 2021 as it ranks second overall.
As of February 2022, Hyundai sold 44,050 cars in India, which translates into a 1.25 percent month-on-month (MoM) sales growth last month. Also, the automaker’s market share in our passenger car market dropped to 13.9 percent in March 2022, down from 16.4 percent in the same month last year.
Hyundai has a diverse car portfolio in the Indian market, including hatchbacks (Santro, Grand i10 Nios, i20, i20 N Line), sedans (Aura, Verna), SUVs (Venue, Creta, Alcazar, Tucson), and EVs ( Kona) electric). The bulk of sales came from Venue and Creta, both of which have strong demand from new car buyers.
It should be noted that the shortage of semiconductor chips has greatly affected car production, which is one of the main reasons for the decline in South Korean auto major sales in India. The manufacturer had earlier said that it was closely monitoring the semiconductor supply situation and was making all necessary efforts to meet the needs of the consumers in the best possible way.
Hyundai plans to launch several new cars in the Indian market, including conventional (IC engine powered) cars as well as electric cars. The new generation Tucson and Venue facelifts have been spying in our country, and they are expected to launch here sometime this year. The brand will probably bring Creta Facelift and the next generation Verna to our market in 2023.
Hyundai is expected to launch the facelifted Kona EV and Ioniq 5 in our market, probably later this year. The latter was also seen several times during tests on Indian roads. In addition, the manufacturer is working on an entry-level EV for India, which is expected to debut in 2024.