Hyundai Sales Remain Stable In June 2024 Amid Heatwave With Marginal Rise

Hyundai Motor India Limited (HMIL), registered total sales of 64,803 units (Domestic 50,103 units and Exports 14,700 units) in June 2024. The Korean brand has marked a strong finish to the H1 2024, with total sales of 3,85,772 units, achieving a growth of 5.68% YoY.

Commenting on HMIL sales, Mr. Tarun Garg, COO, Hyundai Motor India Limited said, "We closed H1 of CY2024 with an overall sales growth of 5.68% Year-on-Year. SUVs have contributed strongly, accounting for 66% of our domestic sales. The new Hyundai Creta has been a key driver for Domestic H1 sales with 91,348 units sold, a growth of 11% over same period last year."

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Besides, the company has plans to launch four electric vehicle models in future, including Creta EV, in the last quarter of the current fiscal, according to the company's preliminary IPO papers filed with Sebi.

The company is looking to maximise the price competitiveness of its electric vehicle (EV) models and intends to focus on securing local production capabilities for key parts, such as cells, battery packs, power electronics, and drivetrain and building a localised EV supply chain.

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In the draft red herring prospectus (DRHP), Hyundai Motor India Ltd (HMIL) said it seeks to calibrate its EV strategy and plan EV timelines in line with market demands in India by launching the appropriate EV models within each price segment.