Hyundai Targets China and India Rebound With 46 New Models, Aiming for 1.28 Million Sales by 2030

Hyundai Motor is seeking a rebound in China and India, the world's No. 1 and No. 3 auto markets, by sharply expanding new-model launches. The push signals the company does not intend to abandon key markets, though intensifying competition from fast-growing local brands makes success uncertain. 

Hyundai said March 22 that CEO Jose Munoz, in a recent shareholder letter, set a goal of lifting combined annual sales in China and India to 1,276,500 vehicles by 2030. The targets are 832,500 in India and 444,000 in China.

Based on last year's global sales of 7.27 million vehicles, the 2030 goal would represent about 23% of Hyundai's total, meaning roughly one in four vehicles would be sold in China or India. With sales in the two markets totaling 702,000 last year, the plan implies growth of about 82%.

Both markets are considered essential, but Hyundai has struggled amid tougher competition. In China, Hyundai sales fell to 130,005 last year from 181,993 in 2024. In India, sales slipped to 571,878 from 607,934.

Hyundai plans to launch 46 new models in China and India over the next five years, about 2.6 times the 18 introduced over the past five years. By year, new-model launches were 6 in 2021, 3 in 2022, 6 in 2023, 1 in 2024 and 2 in 2025.

Munoz said Hyundai will introduce 20 new models in China over five years under a strategy of "in China, for China, to the world." For India, he said the company plans to roll out 26 new models backed by $5 billion in investment through 2030.

Hyundai is also emphasizing localization. In India, it plans an electric SUV that will be planned, designed and produced locally, and it is considering bringing its premium Genesis brand to the market. In China, Hyundai last year launched its first strategic model there, the electric SUV Elexio. An auto industry official said local EV brands already dominate China, making a new approach urgent.