Hyundai Motor India Limited (HMIL) sold 44,600 automobiles in the domestic market in March 2022. While this is an amazing amount in and of itself, it represents a 15.21% year-over-year (YoY) sales reduction for the manufacturer, with total sales of 52,600 units in March 2021, placing it second overall.
Hyundai sold 44,050 vehicles in India in February 2022, representing a month-on-month (MoM) sales increase of only 1.25 percent. In addition, the automaker’s market share in our passenger car market fell to 13.9 percent in March 2022, down from 16.4 percent the previous month.
Hyundai’s Indian car lineup includes hatchbacks (Santro, Grand i10 Nios, i20, i20 N Line), sedans (Aura, Verna), SUVs (Venue, Creta, Alcazar, Tucson), and electric vehicles (Venue, Creta, Alcazar, Tucson) (Kona Electric). Venue and Creta account for the majority of sales, as both models are in high demand among new car purchasers.
The lack of semiconductor chips has had a significant impact on vehicle production, which is one of the main causes for the South Korean automaker’s declining sales in India. The company has indicated that it is actively monitoring the semiconductor supply situation and is putting up all necessary efforts to meet consumer demand.
Hyundai Upcoming Car Launches
Hyundai intends to debut a number of new vehicles in India, including both traditional (IC engine-powered) and electric vehicles. The new Tucson and Venue facelift have been spotted testing in the United States, and they are expected to arrive here later this year. In 2023, the Creta facelift and next-generation Verna are expected to arrive in our market.
The facelifted Kona EV and Ioniq 5 are also slated to arrive in our market later this year. During testing, the latter was also seen on Indian roads a few times. Aside from that, the company is working on an entry-level electric vehicle for India, which is expected to launch in 2024.
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