Hyundai Motor India has achieved a significant milestone in January 2024, recording its highest-ever monthly sales. The boost in sales is attributed to the success of the recently launched New Hyundai Creta, which has garnered considerable demand in the market. Let's delve into the key highlights of Hyundai's remarkable performance in January 2024.
Record-Breaking Sales
- Hyundai Motor India witnessed outstanding sales growth, achieving a total of 67,615 units in January 2024.
- The domestic market played a pivotal role in this success, with Hyundai recording its highest-ever monthly sales of 57,115 units.
YoY and MoM Growth
- The sales figures reflect a substantial year-on-year (YoY) growth of 13.99 percent, compared to January 2023.
- Additionally, there was a noteworthy month-on-month (MoM) growth of 33.60 percent, showcasing Hyundai's continued momentum in the market.
Impact of New Creta Launch
- The launch of the New Hyundai Creta has been a game-changer, driving customer enthusiasm and contributing significantly to the surge in sales.
- Bookings for the new Creta have approached the 50,000 unit mark within just a month of opening orders, highlighting its popularity among consumers.
Model's Positioning and Competition
- Positioned on Hyundai's Global Design Language of 'Sensuous Sportiness,' the new Creta boasts a bolder stance and premium interiors.
- The model competes in the competitive SUV segment against rivals like Maruti Suzuki Grand Vitara, Toyota Hyryder, Kia Seltos, and Honda Elevate, commanding a substantial 31 percent market share.
Upcoming Creta Variants
- Hyundai's future plans include the launch of the Creta N Line, as evidenced by a filed patent and spy shots of the model on test.
- Additionally, the company aims to introduce the Creta EV later in the year, featuring designs inspired by the Ioniq 5 and Palisade, with an impressive range of over 450 km.
Hyundai Motor India's record-breaking sales in January 2024 underscore the brand's resilience and strategic product positioning. The success of the New Hyundai Creta, coupled with plans for variant expansions and electric offerings, positions Hyundai as a dynamic player in the evolving automotive landscape. As the company continues to innovate and respond to market preferences, its performance in January sets a positive tone for the year ahead.