[Hyundai Motor Conference Call] "Q3 India Market Share 18%... Utilization Rate Improved to 88%"

[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Company stated on the 26th during the 2020 Q3 earnings conference call regarding the Q3 performance in the Indian market, "Due to the avoidance of public transportation caused by the spread of the novel coronavirus infection (COVID-19), demand increased faster than expected after the Q2 lockdown, resulting in a 17% year-on-year increase in industrial demand in India in Q3." They added, "Hyundai's sales volume increased by 14% compared to the previous year, maintaining second place with a market share of 18%." Furthermore, they noted, "The operating rate of the Indian plant, which had fallen to 17% in Q2, improved to 88% in Q3."

In particular, the model that led Hyundai's performance in India was the new Creta. Hyundai said, "Since its launch in April, the new Creta has sold 54,000 units, maintaining the number one sales position within the same segment," and added, "Thanks to the new car effect, the compact SUV segment market share in Q3 was 29%, maintaining second place."

Regarding the outlook for the Indian market in Q4, Hyundai emphasized, "Although a peak season similar to last year is expected during the festival season, there is uncertainty due to some resurgence of COVID-19," and stated, "We will strengthen our attack on the new compact car market with the launch of the new i20 and solidify our leadership in the sports utility vehicle (SUV) segment to focus on defending profitability."

This content was produced with the assistance of AI translation services.