Hyundai showed a flat domestic growth in October 2024 while the company witnessed high export performance
Hyundai Motor India Limited (HMIL) has reported monthly sales (domestic + exports) at 70,078 units in October 2024, marking a 1.96% YoY growth from 68,728 units sold in Oct 2023. This was the company’s 3rd highest monthly sales since inception. Taking a breakup of domestic sales and exports, domestic sales stood at 55,568 units, a 0.80% growth from 55,128 units sold in Oct 2023. Exports were up at 14,510 units in the past month. This was a 6.69% YoY growth from 13,600 units shipped in Oct 2023.
Hyundai Sales October 2024- YoY Vs YTD
Hyundai’s domestic sales in October 2024 stood at 55,568 units. This was a 0.80% YoY growth from 55,128 units sold in Oct 2023 relating to a volume growth of 440 units. MoM sales improved even more dramatically by 8.74% over 51,101 units sold in Sept 2024 which was a 4,467 unit volume increase.
Year to date (YTD) sales during the period Jan to Oct 2024 saw domestic sales at 5,14,979 units, up 0.99% over 5,09,910 units sold in the same period of 2023. This was a volume increase of 5,069 units. Exports fell by 0.61% to 1,32,810 units in the YTD 2024 period from 1,33,625 units exported in the corresponding period of 2023. This took total sales to 6,47,789 units, a 0.66% over 6,43,535 units sold in the YTD 2023 period, relating to a 4,254 unit volume increase.
The company’s CNG lineup has seen the highest monthly sales at 8,261 units. This marked a 14.9% share in domestic sales volumes. SUV’s also played a major role in adding to domestic sales with a 68.2% penetration in October 2024.
New Hyundai Creta has played a major role in improving sales. It continues to remain the best-selling SUV in its segment and recently, surpassed the milestone of 1.1 million units. Hyundai also finds ample demand for the Venue, especially since the Venue has received a makeover earlier this year.
Hyundai Key Highlights
Commenting on HMIL sales, Mr. Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL said, “We witnessed a strong demand for our SUV portfolio during festive period, leading to our highest-ever monthly SUV sales at 37,902 units, including highest ever monthly domestic sales of the Hyundai CRETA at 17,497 units.
SUVs remain a cornerstone of our lineup, representing an impressive 68.2% of our total monthly sales in October 2024, with similar penetration in urban as well as rural markets. This strong demand underscores the broad appeal of our SUV line-up and our commitment to delivering quality and performance to all our customers. We continue to bolster our CNG penetration and HMIL’s innovative Hy-CNG technology has helped us achieve highest ever CNG sales volume of 8,261 units thereby contributing 14.9% to domestic sales volume in October 2024.”
