Hyundai’s Sales Report for August 2024

Hyundai's August 2024 sales highlight a decrease in export volumes and modest domestic growth, with YTD figures indicating overall positive performance despite recent challenges.

By Shagun Kaushik

19.28k

Sep 03, 2024 05:49 am IST

Hyundai Motor India Limited (HMIL) reported a mixed performance for August 2024, with total sales of 63,175 units. Of this, 49,525 units were sold domestically and 13,650 units were exported. This represents an 11.56% year-over-year (YoY) decline in total sales from August 2023, when the company sold 71,435 units. Domestic sales decreased by 8.00%, and exports experienced a more significant drop of 22.47%. Despite this, year-to-date (YTD) figures for 2024 show positive growth overall.

Key August 2024 HMSI Sales Figures:

Total Sales: 63,175 units
Domestic Sales: 49,525 units (down 8.00% YoY)
Export Sales: 13,650 units (down 22.47% YoY)

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Year-to-date performance from January to August 2024 reflects a more positive trend. Hyundai has achieved total sales of 513,510 units, representing a 2.06% increase compared to the same period in 2023. Domestic sales have risen by 1.94%, reaching 408,310 units, while export sales have grown by 2.51%, totaling 105,200 units.

Performance Breakdown:

Sales	August 2024	August 2023	Change (%)
Total Sales	63,175 units	71,435 units	-11.56%
Domestic Sales	49,525 units	53,830 units	-8.00%
Export Sales	13,650 units	17,605 units	-22.47%
Year-to-Date Total Sales	513,510 units	503,596 units	+2.06%
Year-to-Date Domestic	408,310 units	401,092 units	+1.94%
Year-to-Date Export	105,200 units	102,504 units	+2.51%

Month-to-Month Domestic Sales:

July 2024 Domestic Sales: 49,013 units
August 2024 Domestic Sales: 49,525 units (1.04% increase)

The month-to-month comparison shows a slight improvement in domestic sales from July to August 2024, indicating steady demand in the Indian market despite overall declines. This uptick, though modest, suggests that Hyundai's focus on the domestic segment remains effective.

Looking ahead, Hyundai is preparing for the launch of the new Alcazar, a 6 and 7-seater SUV, expected to boost sales during the festive season. This new model could provide a significant boost, especially in the competitive SUV market, aligning with Hyundai’s strategy to leverage the growing popularity of SUVs in India.

The strategic focus on SUVs, with popular models like the Creta, Venue, and Exter contributing 66.8% to domestic sales, continues to drive Hyundai's market performance. The upcoming Alcazar launch could play a pivotal role in sustaining growth and capturing a broader market share.