Tata Motors and Mahindra & Mahindra are fast closing the gap with the South Korean automaker in the domestic market for the number 2 spot.
01 Jan 2025 | 1600 Views | By Autocar Pro News Desk
Hyundai Motor India Limited (HMIL) reported flattish growth in its 2024 sales, with 6,05,433 domestic units sold, showing a marginal increase from 6,02,111 units in 2023. Yet it achieved its highest-ever yearly domestic sales in 2024, marking the third consecutive year of record-breaking domestic sales.
Including exports, the total ...
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Hyundai Motor India Limited (HMIL) reported flattish growth in its 2024 sales, with 6,05,433 domestic units sold, showing a marginal increase from 6,02,111 units in 2023. Yet it achieved its highest-ever yearly domestic sales in 2024, marking the third consecutive year of record-breaking domestic sales.
Including exports, the total sales figure reached 7,64,119 units, with the company maintaining the second slot. Tata Motors and Mahindra & Mahindra are fast closing the gap with the South Korean automaker in the domestic market.
In December 2024, HMIL reported monthly sales of 55,078 units, comprising 42,208 domestic units and 12,870 export units.
Reflecting on the year, Tarun Garg, whole-time director and chief operating officer at HMIL, said the company managed to sustain sales momentum in 2024 despite the industry's strong headwinds.
“Achieving the highest-ever domestic sales three years in a row reflects customers’ preference for the brand Hyundai as their trusted, smart mobility solutions provider. The introduction of the innovative Hy-CNG Duo technology in 2024 resonated well with buyers, translating to the highest-ever CNG contribution of 13.1% to HMIL’s domestic sales. By achieving the highest-ever yearly domestic sales, Hyundai Creta continued to strengthen HMIL’s position as an SUV leader. We are confident that the upcoming Creta Electric will further expand the appeal of this brand.”
SUV Leadership and Hyundai Creta’s unassailable lead
The SUV segment continued to drive Hyundai’s growth story in India, contributing an impressive 67.6% to the brand's domestic sales—the highest-ever yearly SUV contribution for HMIL. The Hyundai Creta led this charge, recording its highest-ever annual domestic sales of 1,86,919 units. The Creta remained a stronghold in the mid-size SUV segment, helping the company stay among the leaders in the SUV market.
CNG contribution grows
In 2024, Hyundai’s CNG portfolio contributed 13.1% to domestic sales, up from 10.4% in 2023. The Hy-CNG Duo technology, introduced in 2024, played a pivotal role in this growth, offering customers an innovative solution that provided high fuel efficiency without compromising on the boot space.
Strengthening Global Export Footprint
Hyundai Motor India further cemented its role as an export hub, shipping 1,58,686 units to global markets in 2024. This achievement highlights Hyundai’s strategic focus on India as a key manufacturing and export base for its global operations.
Key Highlights of Hyundai’s 2024 Performance:
• Total Domestic Sales: 6,05,433 units (highest ever)
• Total Sales (Domestic + Export): 7,64,119 units
• December 2024 Monthly Sales: 55,078 units (Domestic: 42,208 units, Export: 12,870 units)
• SUV Contribution: 67.6% (highest ever)
• Hyundai CRETA Sales: 1,86,919 units (highest ever)
• CNG Contribution to Domestic Sales: 13.1% (highest ever)
• Export Sales: 1,58,686 units
Way ahead
As Hyundai prepares to launch its upcoming CRETA Electric, the company will look to strengthen its position in the Indian electric vehicle segment.
The company will look forward to another year of growth and aims to continue to streak for the fourth year in a row.