Hyundai Motor Company is on the verge of achieving 10 million cumulative vehicle sales in India, marking a significant milestone 30 years after entering the market. Since launching local sales in 1998, the company has expanded its sales base by focusing on a tailored lineup of sports utility vehicles (SUVs).
According to the Society of Indian Automobile Manufacturers (SIAM), Hyundai has sold a total of 9,884,960 vehicles in India as of the third quarter of this year. Given the current sales trend, the company is expected to surpass the 10 million mark by the end of the year.
Hyundai's entry into the Indian market began in 1996 with the establishment of a local subsidiary, followed by the production and launch of its first model, the Santro, at its Chennai plant in 1998.
The Santro gained popularity as a 'people's car' in India due to its spacious interior and practicality, helping Hyundai establish a strong foothold in the market. From its first year, Hyundai achieved the second-largest market share and subsequently expanded its offerings with models like the i10, i20, and Verna.
In response to the growing Indian automotive market and diverse customer demands, Hyundai introduced its first local strategic SUV model, the Creta, in July 2015. The Creta was developed to meet local customer needs, featuring a spacious interior suitable for large families, a high ground clearance for poor road conditions, and an indoor air purifier.
After its launch, the Creta became the best-selling SUV in India for three consecutive months, selling over 40,000 units in its first year. Hyundai continued to expand its SUV lineup with the launch of the Venue in 2019, the three-row SUV Alcazar in 2021, and the entry-level SUV Exter in 2023.
This diverse SUV lineup has contributed to strong sales in the Indian market. Following the Creta's launch in 2015, Hyundai surpassed annual sales of 500,000 units for the first time in 2016. In 2020, the Venue and Creta together drove sales, achieving a record annual market share of 17.4%. In 2024, Hyundai reached its highest annual sales in India with 605,433 units sold.
As of the third quarter of this year, Hyundai sold 471,724 vehicles in India, with SUVs accounting for 316,026 units, or 67% of total sales. The company plans to increase the SUV share in its Indian sales to 80% by 2030.
To support its sales growth, Hyundai is also strengthening its production capabilities. The company currently operates its Chennai 1 and 2 plants and a facility in Pune. The Chennai plants have an annual production capacity of 824,000 units, while the Pune plant can produce 170,000 units, giving Hyundai a total production capacity of 1 million units in India.
Hyundai plans to expand the Pune plant's capacity to 250,000 units by 2028 and to 320,000 units by 2030, aiming to increase its total production capacity in India to over 1.1 million units annually. Additionally, the company intends to raise the local parts sourcing rate to over 90% by 2030 to enhance cost competitiveness and increase the export share to a maximum of 30%, developing India into a global export hub.
* This article has been translated by AI.
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