Hyundai recorded its record-breaking total sales, reaching 777,876 units, marking an 8 per cent year-on-year growth in FY2023-24 in India
In the financial year 2023-2024, Hyundai Motor India Limited (HMIL) achieved its record-breaking total sales, reaching 777,876 units, marking an 8 per cent year-on-year growth compared to the previous term. Moreover, the South Korean auto major also recorded its highest-ever domestic sales since its establishment, with 6,14,721 units sold in FY 23-24.
For the recently concluded fiscal year, exports reached 1,63,155 units, reflecting a 6.7 per cent increase compared to the previous year. In March 2024, the second largest car producer in the country reported total sales of 65,601 units, comprising 53,001 units in the domestic market and 12,600 units were exported from its production facility in Tamil Nadu.
The brand experienced a notable 8.3 per cent surge in local market sales during the fiscal year 2023-24 compared to the preceding year, marking the highest sales ever recorded since the company’s debut in India. Throughout 2023-24, HMIL introduced several new models and product upgrades including the Exter and Creta facelift while ADAS tech was introduced in the Venue and Venue N Line.
Speaking on the sales performance, Tarun Garg, COO of Hyundai Motor India Limited, said, “HMIL’s pursuit of technology & innovation was also recognized by critics, and the coveted ‘Car of The Year’ title was awarded to the EXTER, VERNA and IONIQ 5 by prominent Indian Automotive media. In fact, the three products together amassed over 50 awards cumulatively for HMI in this FY. As we move forward into 2024-25, we will continue to work diligently towards creating more excitement and enhanced value for our beloved customers.”
In FY2023-24, Hyundai sold 6,14,721 units against 5,67,546 units in the Indian market while exports stood at 1,63,155 units as against 1,53,019 units during the same period last FY with a healthy YoY volume increase of 6.7 per cent. In March 2024, the company recorded just over 53,000 units as against 50,600 units with a YoY growth of 5 per cent.
Hyundai shipped 12,600 units last month as against 10,900 units during the corresponding period twelve months ago with 16 per cent YoY growth. Thus, cumulatively, 7 per cent growth was noted as 65,601 units were registered against 61,500 units. Hyundai is planning to bring in a host of new models to India over the next two years.