Hyundai India’s domestic sales hit record high in 2024

Hyundai Motor India Ltd (HMIL) once again proved its market dominance, achieving its highest-ever domestic annual sales of 6,05,433 units in 2024, up 0.55% from 6,02,111 units in 2023. Hyundai Motor has set domestic sales records for a consecutive year, underscoring its growing position in the Indian car market.

Key highlights for 2024

Total sales (domestic + export): In 2024, HMIL’s sales volume will be 7,64,119 units, a slight decrease of 0.22% as compared to 7,65,786 units in 2023.

Export performance: The company exported 1,58,686 units, down 3.05% from 1,63,675 units in the previous year.

SUV contribution: In 2024, SUVs’ contribution to Hyundai Motor’s domestic sales reached a record 67.6%.

Compressed natural gas contribution: CNG models accounted for 13.1% of Hyundai Motor’s domestic sales, reflecting customers’ growing preference for fuel-efficient alternatives.

Hyundai Creta SUV continued to lead the pack with record domestic sales of 1,86,919 units, reaffirming its position as a customer favorite.

December 2024 Sales Overview

In December 2024, Hyundai Motor’s total sales were 55,078 vehicles, of which 42,208 were domestic sales and 12,870 were exported. Domestic sales fell slightly by 1.27% compared to 42,750 units in December 2023, while export sales fell by 6.06% from 13,700 units last year.

Fourth Quarter 2024 Sales Results

Hyundai’s total sales in Q4 2024 were 1,86,408 units, down 2.39% from 1,90,979 units in Q4 2023. These include:

Domestic sales: 1,46,022 units (down 0.89% from 1,47,329 units in the fourth quarter of 2023).

export sales: 40,386 units (down 7.48% from 43,650 units in the fourth quarter of 2023).

performance analysis

Hyundai’s success in the domestic market continues to drive growth for the company despite a slight decline in export sales. Key factors contributing to this success include:

Hyundai Creta’s dominance: Creta maintained its leadership position and recorded the highest single-year domestic sales of 1,86,919 units.

Focus on SUVs: The growing demand for Hyundai’s SUV range has contributed significantly to its overall sales performance.

Adoption of compressed natural gas: CNG contributes over 13% to domestic sales, with Hyundai taking full advantage of shifting consumer preferences.

Comment on HMIL sales, Mr. Tarun Garg“Despite strong headwinds faced across the industry, HMIL managed to maintain sales momentum in 2024. Achieving the highest domestic sales volume for the third consecutive year reflects customers’ confidence in the Hyundai brand as a trusted smart brand,” said Hyundai Motor India Ltd. Preference for mobile solution providers. The launch of innovative Hy-CNG Duo technology in 2024 has generated strong response from buyers, with CNG contribution to HMIL’s domestic sales reaching an all-time high of 13.1% in 2024 and 2023 10.4%., 86,919 units, Hyundai CRETA continues to consolidate HMIL’s position as the SUV leader, helping HMIL achieve a maximum contribution of 67.6% by 2024. We believe that the upcoming CRETA Electric will further expand this. The undisputed ultimate SUV appeal.”