Hyundai, a well-known car manufacturer, demonstrated strong sales in the Indian market for February 2024, with significant gains in several models. With 50,201 units sold overall in February 2024, Hyundai's total sales for the same month the previous year increased by 6.88%. Hyundai's capacity to adapt and persevere in the face of shifting consumer demands and market challenges is demonstrated by this performance.
Hyundai Creta Achieves Highest Monthly Sales
Hyundai Creta increased brand sales in February 2024, with 15,276 units sold. This was a YoY rise of 47% and a MoM growth of 16%. In February 2023 and January 2024, the sales figures were 10,421 and 13,212 units, respectively. The Creta was the third best-selling SUV in India and the only model in the company's lineup to sell more than 10,000 units.
This was the largest monthly sales volume that Creta has ever reported since launching in India. Additionally, the Creta sold one unit every five minutes last month, marking a milestone reached since its inception in 2015. Hyundai unveiled the new Creta N Line earlier this week, which is expected to increase Creta brand sales even more.
Other Models' Performance Overview
Sales of the Hyundai Venue were down last month at 8,933 units, down 11% from 9,997 units sold in February 2023. MoM sales were also down by 24% from 11,831 units sold in January 2024. This month, Hyundai released a new Executive Turbo version of the Venue, priced at Rs. 10 lakh (ex-showroom) and positioned below the S (O) model.
Sales of the relatively new Hyundai Exter dropped 8% month over month to 7,582 units from 8,229 units sold in January 2024. The business reported YoY and MoM declines in sales for the Hyundai i20, which sold 5,131 units, and the Xcent/Aura, which sold 5,053 units last month. Sales of the Hyundai Grand i10 similarly decreased YoY and MoM to 4,947 units.
Hyundai Verna Sales Surge
Although sales of sedans are not as strong as those of hatchbacks and SUVs, the Verna sedan has seen exceptional year-over-year demand, rising by 3474 percent to 1,680 units in February 2024. In February 2023, there were only 47 units sold. However, from 2,172 units sold in January 2024, its month-over-month sales decreased by 23%.
Two digital Sales declines of 1,290 units of the Hyundai Alcazar and 157 units of the Tucson were recorded both YoY and MoM. On a month-over-month basis, sales of the company's two electric models, the Kona (86 units) and Ioniq 5 (66 units), have decreased by 16 percent and 31 percent, respectively.
Conclusion
With a broad range of products to suit different market niches and ongoing electrified innovation Hyundai is still in a strong position to maintain its current growth rate and increase its market share in the fiercely competitive Indian car industry.