Hyundai Motor India, a leading player in the country’s automotive sector, has reported a robust sales performance for March, culminating in its highest-ever sales figure for the fiscal year 2023-24. The company’s sales data underscores its resilience and growth trajectory amidst evolving market dynamics.
In March, Hyundai Motor India witnessed a commendable 7% year-on-year increase in total sales, with 65,601 units sold compared to 61,500 units in March 2023. Domestic dispatches of vehicles surged by 5% to reach 53,001 units, while exports recorded a significant 16% growth, totaling 12,600 units.
For the entire fiscal year 2023-24, Hyundai Motor India achieved a historic milestone by registering its highest-ever sales at 7,77,876 units, marking an impressive 8% increase from the previous financial year’s figure of 7,20,565 units. Notably, the domestic market witnessed a robust performance, with Hyundai dispatching 6,14,721 units to its dealers, reflecting an 8% growth from the previous fiscal year.
The company’s export segment also exhibited remarkable growth, with exports rising by 7% to 1,63,155 units, showcasing Hyundai’s strong presence and competitiveness in international markets.
Tarun Garg, Chief Operating Officer of Hyundai Motor India, expressed pride in the company’s achievement, highlighting the widespread acceptance of its diverse product portfolio. He emphasized that the sales figure of 7.77 lakh units for the fiscal year 2023-24 is a testament to the company’s unwavering commitment to delivering quality vehicles and meeting customer expectations.
Garg further underscored the significant growth in domestic sales, which surged by 8.3% in the fiscal year 2023-24 compared to the previous year, representing the highest sales reported by the automaker since its inception. The achievement not only reflects Hyundai’s strong market presence but also its ability to adapt to changing consumer preferences and market dynamics effectively.
Hyundai Motor India’s stellar performance in both domestic and international markets reaffirms its position as a key player in India’s automotive industry. As the company continues to innovate and introduce new offerings, it is poised to maintain its upward trajectory and solidify its leadership in the competitive automotive landscape.
