Hyundai Motor continues to report strong sales in India, the world's third-largest automobile market. / AI-generated image by ChatGPT

Hyundai Motor is maintaining strong sales momentum in India, the world's third-largest automobile market, during the country's biggest festive season of the year. With demand rising across both urban and rural areas, the company is expected to further strengthen its position in the Indian market.

According to Indian automotive publication Autocar Professional on Oct. 21 (local time), Hyundai Motor India said vehicle registrations during Shradh and Navratri rose 30% year-on-year to approximately 41,000 units.

"This year, the festive season has started on a strong note for Hyundai Motor India, driven by robust Onam and Ganesh Chaturthi sales," said Tarun Garg, managing director and CEO of Hyundai Motor India.

The strong sales performance is particularly noteworthy because demand has increased across both major cities and rural markets. Hyundai has recently expanded its SUV sales in India while also extending its sales network in rural areas. SUVs, including the Creta and Venue, currently account for approximately 70% of Hyundai's domestic sales in India, while the share of sales from rural areas rose to 25.9% in the first quarter of this year.

Hyundai expects the strong sales momentum to continue through the major festivals of Dhanteras and Diwali, given current booking trends. "Considering the pace of bookings, we expect momentum to continue through Dhanteras and Diwali," Garg said.

The company's recent sales performance in India has also remained strong. Hyundai recorded 50,201 vehicle registrations in September, up 31.5% from the same month last year.

Hyundai is also introducing a new model to coincide with the festive season. The company plans to officially launch the Bayon compact SUV in India on Oct. 26. It is currently accepting preorders with a booking deposit of 11,000 rupees, and Hyundai said customer interest in the Bayon has been strong.

Viewing India as a key growth market, Hyundai is also working to expand its production capacity and vehicle lineup. In addition to its existing Chennai plant, the company has begun operating its Pune plant and plans to increase its annual production capacity in India to 1.14 million vehicles by 2030. It is also strengthening its lineup of vehicles in high demand locally, including SUVs, hybrids and electric vehicles.

                                                                                                             Nam Mi-kyung