Hyundai Motor India Ltd. (HMIL) has emerged as a frontrunner in the Indian automotive market, concluding the year 2023 with a groundbreaking achievement that cements its position as a leader. In a year characterized by significant milestones and strategic advancements, Hyundai has not only met but surpassed expectations setting a new benchmark in sales performance.
Unprecedented Growth:
?Hyundai's success in 2023 is evident in the numbers. With a remarkable 9% increase in domestic sales compared to the previous year, the company achieved a historic milestone by surpassing the six-lakh sales mark in CY2023. This outstanding feat, with sales reaching 6,02,111 units, represents a robust increase of 9% over the preceding year's 5,52,511 units. Furthermore, the export segment experienced substantial growth, surging by 10% to 1,63,675 units in CY2023 from 1,48,300 units in CY2022.
December 2023 Sales Surge:
?Ending the year on an exuberant note, December 2023 witnessed a significant spike in sales. The month's total sales skyrocketed to 56,450 pieces, of which 43,750 were sold domestically and 13,700 were exported. This marked an impressive 10% increase in domestic sales compared to the previous year.
Attribution of Success:
Mr. Tarun Garg, the Chief Operating Officer (COO) of HMIL attributed this exceptional achievement to several factors. He emphasized the noteworthy expansion that has surpassed industry averages indicating that Hyundai continues to be consumers' go-to car brand and Mr. Garg emphasized Hyundai's proactive approach to meeting growing demand which involves increasing production capacity by 50,000 cars by 2023.
Commitment to Safety and Innovation:
?Beyond sales figures, Hyundai's commitment to safety and innovation shines brightly. The company standardized six airbags across all models and trims setting a new standard in mass automobile safety in India. Hyundai's cars are still praised for their safety features; the Hyundai VERNA, for example, has earned a distinguished 5-star certification from GNCAP. Furthermore, the Hyundai EXTER has not only attracted over a million reservations but also earned positive reviews from both reviewers and consumers.
Inclusivity and Corporate Responsibility:
Above and beyond its commercial successes Hyundai is promoting a more inclusive society with programs like 'Samarth' a corporate effort that supports people with disabilities. This initiative aligns with Hyundai's overarching Progress for Humanity mission and shows the company's commitment to fostering an inclusive environment.
Hyundai's steadfast dedication to India was reaffirmed by Mr. Garg who also pledged to keep concentrating on developing innovative goods and technology that meet the needs of their clientele. As the Indian market's needs change, Hyundai is preparing to introduce the new Creta this month demonstrating its commitment to innovation.