Hyundai India registers growth in domestic wholesales and exports in July 2021
HMIL has registered a domestic growth rate of over 25 per cent. Sales stood at over 48k units, up from 38.2k units on a volume growth of only 10k units. Exports increased from 3.1k units to 12,207 units. Volume growth is just over 9.1k units. The cumulative sales growth is reported to be 45.88 percent.
Total sales are reported to be over 60k units, from 41.3k units you are on to volume growth at just under 19k units. The domestic sales of MoM have registered a growth of over 18 per cent. Volume growth increased from 40,496 units to over 7.5k units.
positive growth momentum
Tarun Garg, Director (Sales, Marketing and Service), Hyundai Motor India Limited said, “Hyundai registered domestic sales of 48,042 units in July, which is a strong performance from our newly launched 6- and 7-seater SUV, the Hyundai Alcazar. is due to. and our other segments defining products like Creta, i20 and Venue. A positive growth momentum is clearly visible in the passenger vehicle industry with stabilization of macro-economic factors, good monsoon and increased consumer shift towards personal mobility.
A significant shift from a period of low sales activity to a more stable one is expected as a result of the newly introduced relaxations by the state governments. This will bring stability in production and sales in the passenger vehicle industry as well as accelerate growth in the near future.
Hyundai Product Competitiveness
The passenger car market in India is dominated by hatchbacks and sedans. Back in the day, hatchbacks captured the majority market share, with saloons and SUVs following suit respectively. The dynamics have changed a lot in the present times. Market trends point to an increase in demand for UVs including the smaller UV variety.
And Hyundai India has benefited immensely from this change in consumption pattern. Already aligning its production and goals to dominate the wider UV segment means that Hyundai’s relevance continues to evolve.
Hyundai is taking various initiatives to strengthen its corporate values and brand image to capture a larger share in the global passenger vehicle market. This includes the introduction of new technologies to enhance product competitiveness. To meet these objectives and achieve strategic goals, Hyundai has revised processes and goals across all areas of the business, covering the product portfolio and the company’s vision/values.
A decade ago, the industry was expecting positive growth momentum. But then came the global recession and followed a series of policy, regulatory changes and product launch activities from competitors. The industry was sluggish for a certain period of time due to policy changes, transition and taxes among other changes. Recently, the Indian auto industry has been affected by the ongoing COVID-19 pandemic. This was further complicated as the industry transitioned to BSVI norms in late March 2020 when the pandemic guaranteed a complete business lockdown.