- Hyundai Motor India aims to regain the number two position in the domestic passenger vehicle market after losing it to M&M and Tata Motors, according to Managing Director and CEO Tarun Garg.
- Hyundai recorded about 13% growth in domestic sales during the April-August period this fiscal.
- The company plans to launch a new mid-size SUV during the festive season and a dedicated EV in the sub-four metre segment.
- Hyundai expects 8-10% sales growth in the second half of the fiscal year, outpacing the industry's 5-6% growth.
- The company is bringing forward the third shift at its Pune plant to October 1, enhancing its production capacity.
- Hyundai aims to end the year with 8-10% growth and regain its number two spot in the market.
- Hyundai's production capacity at its Pune plant is set to increase to 2.5 lakh units annually by 2028 and 3 lakh units by 2030, up from the current 1.7 lakh units per annum.
- The upcoming Hyundai EV will be PLI-compliant from day one, utilizing technology and features aimed at enhancing customer experience.
- Hyundai's existing portfolio has shown broad-based improvement, with models like Exter and Venue recording significant sales growth.
Hyundai Motor India Ltd (HMIL) is set to launch two new SUVs, including a dedicated electric vehicle (EV), aiming to reclaim its number two position in the domestic passenger vehicle market.1
Tarun Garg, Managing Director and CEO, stated, "In the festive season, we are going to launch one more mid (size) SUV and then we will have one more EV, which will be a dedicated EV in the sub-four metre segment."3
The company expects 8-10% sales growth in the second half of the fiscal year, significantly outpacing the overall industry growth of 5-6%. Garg noted, "Total industry volume for H2 could be 5-6 per cent. For us, we are expecting 8-10 per cent."4
In the April-August period, HMIL reported a 13% growth and aims to maintain this momentum. Garg emphasized the importance of regaining market share, stating, "Absolutely...we are very passionate (about the number two spot)."26
The company is also expanding production capacity at its Pune plant, which will reach 2.5 lakh units annually by 2028 and 3 lakh units by 2030. Garg mentioned, "We can take care of a very high double-digit growth, which we are expecting both from domestic and export markets, in the next five years with this kind of a capacity."7
The upcoming EV is designed specifically for India, incorporating advanced technology and AI to enhance customer experience.
Rural markets accounted for 25.9% of Hyundai's sales in the first quarter of FY27, reflecting strong demand despite challenges in the agricultural sector.
Garg stated, "We can really leverage on the new EV...with the Creta EV and the new EV along with the IONIQ 5, these three cars should take us closer to industry penetration by next year."
“Hyundai's Pune plant will add a third shift from October 1, boosting capacity to 2.5 lakh units by 2028. The new EV will be PLI-compliant from day one, and rural sales hit a record 26% in the last quarter.”
