Hyundai Motor, October Domestic Sales in India Reach 'All-Time High' in 22 Years

[Asia Economy Reporter Suyeon Woo] Hyundai Motor Company set a new record for the highest monthly domestic sales in the Indian market in October.

According to Hyundai Motor India on the 2nd, Hyundai sold 56,605 units in the Indian domestic market last October, setting a monthly record. This figure represents a 13.2% increase compared to the same period last year and is the highest level in 22 years since Hyundai entered the Indian market in 1998.

Hyundai Motor Company's global strategic subcompact SUV, Creta.

The recovery of Hyundai's sales in India was largely influenced by the strong performance of strategic models such as the 'All New Creta,' unveiled earlier this year, as well as the i10 and i20. The Creta surpassed 500,000 cumulative domestic sales since its launch in early August and holds the number one sales position in the Indian compact sports utility vehicle (SUV) market.

The Indian automobile market was severely impacted by the nationwide lockdown due to the COVID-19 pandemic, recording zero sales in April. However, since the lifting of the lockdown in May, the market has shown a rapid recovery.

Exports from the Indian subsidiary in October reached 12,230 units, down about 10% year-on-year, but the sharp recovery in the Indian domestic market is driving a rebound in performance.

Tarun Garg, Director of Hyundai Motor India Regional Headquarters, said, "The sales situation in October was encouraging ahead of the festival season, and we have high expectations as the new i20 model is set to launch this month."

Hyundai Motor India has achieved a cumulative production of 9.5 million units since starting automobile production and sales in India in September 1998. In the third quarter of this year, it maintained second place in the industry with an 18% market share.

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