Powered by demand for its SUVs, particularly for the Creta and the new Exter, Hyundai registers 9% growth. Along with exports of 163,675 units, the Chennai-based carmaker has surpassed the 700,000 units milestone
01 Jan 2024 | 5749 Views | By Ajit Dalvi
CY2023 has turned out to be a record-breaking year for the Chennai-based Hyundai Motor India. The Korean car and SUV manufacturer has announced its best-ever annual calendar year sales of 602,111 units in 2023. This constitutes a 9% year-on-year increase (CY2022: 552,511 units) and marks the first time that it ...
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CY2023 has turned out to be a record-breaking year for the Chennai-based Hyundai Motor India. The Korean car and SUV manufacturer has announced its best-ever annual calendar year sales of 602,111 units in 2023. This constitutes a 9% year-on-year increase (CY2022: 552,511 units) and marks the first time that it has surpassed the 600,000-units wholesales milestone in the domestic market.
Furthermore, a 10% improvement in its exports of made-in-India Hyundai passenger vehicles to 163,675 units (CY2022: 148,300 units), means that cumulative domestic and export sales total 765,786 units, up 9% YoY (CY2022: 700,811 units). This is the second milestone for the year gone by.
The company’s SUV line-up – Creta, Venue, Alcazar, Exter, Tucson – along with the Ioniq 5 and Kona electric SUVs are understood to have contributed around 60% to overall sales. That would translate into 361,266 UVs sold in CY2023. What has helped accelerate sales in the past six months is the launch of the Exter compact SUV at an aggressive price of Rs 599,000. Demand for the feature-laden Exter has been strong and has received over 100,000 bookings, which is creditable given that this new model is part of an ultra-competitive sub-segment.
The Creta remains India’s best-selling midsize SUV even as demand sustains for the Venue, Hyundai’s first compact SUV. Meanwhile, the all-electric Ioniq 5 launched at the Auto Expo 2023 has seen strong demand – a total of 1,147 units have been sold in the first 11 months of CY2023.
Commenting on Hyundai’s strong showing in CY2023, Tarun Garg, COO, Hyundai Motor India, said: “Hyundai Motor India has witnessed a watershed moment by achieving its highest-ever domestic sales of 602,111 units, achieving respectable 9% growth. HMIL has not just kept pace but surpassed industry growth (estimated at around 8.2%). Also in 2023, we proactively expanded our annual production capacity by 50,000 units to meet the increasing demand from our customers.”
He added, “HMIL is the first mass automobile brand in India to standardise six airbags across all models and trims, reinforcing our commitment to safety. We also secured a 5-star rating for the Hyundai Verna from GNCAP.”