Due to geopolitical challenges, Hyundai had witnessed a slump in demand in the months of April, May and June
While Maruti Suzuki comfortably leads India’s passenger vehicle (PV) segment, there’s a constant battle for the second spot. In recent times, Hyundai and Mahindra have been neck and neck, with Tata Motors also quite close. Vahan data reveals that Hyundai is back to the second spot in July, after sitting at the third position for three consecutive months. Let’s check out the details.
Hyundai retail sales jump 8% in July
As per data available on the Vahan portal, Hyundai retail sales in July were at 42,661 units. That’s a MoM increase of 8%, as compared to retail sales in June. In comparison, Mahindra retail sales in July were at 41,476 units.
In all the three months of the first quarter FY 2025-26, Mahindra was ahead of Hyundai and placed at the second spot. In July, Tata Motors was at 4th spot, registering sales of 39,795 units. This is a good double-digit growth of 12.6%, as compared to the numbers in June.
Hyundai has improved its market share from 12.9% in June to 13.2% in July. In comparison, Mahindra witnessed its retail sales market share drop from 14% in June to 12.8% in July. Tata Motors also witnessed a slide in market share, from 12.3% in June to 11.7% in July. It is to be noted that the wholesale volumes of these carmakers are yet to be released.
This data indicates a close fight for the second spot in India’s PV segment. Maruti Suzuki continues to lead, with 1.28 lakh units sold in July. That’s a gain of 8%, as compared to retail sales in June. Maruti’s market share improved from 38% in June to 39.8% in July. This is close to the company’s long-term goal of maintaining its market share at around 40%.
Hyundai’s projections come true
Results for Hyundai have aligned exactly with COO Tarun Garg’s projection. As may be recalled, Garg had earlier stated the April-June quarter was a challenge for the brand due to critical geopolitical events. It included factors like the Iran-Israel conflict, Indo-Pak war and uncertainties related to trade tariffs.
But Garg was also confident about a turnaround, which seems to be the case in July. Garg foresees a further boost in sales performance in the coming months. Several favourable factors are at play such as income tax rebates, reduced interest rates on car loans and the upcoming festive season.
Hyundai’s top selling product continues to be the Creta SUVcontributing more than 35% to overall sales volume. The brand recently celebrated the 10th anniversary of Creta, which now has cumulative sales of more than 1.2 million units in India. Creta has been the highest selling SUV (4.3m segment) in India since CY2015. It is exported to more than 13 countries. Other Hyundai bestsellers include Venue, Exter, Aura, i10 Nios and i20.
