Hyundai India expects strong export recovery in Q2 FY27

Hyundai Motor India Ltd. (HMIL) is expecting a strong recovery of its export volumes from the second quarter of the ongoing fiscal year on the back of continued robust demand and a healthy order backlog across key markets. This projection comes after the automaker, in the first quarter of FY27, had witnessed a decline in its export numbers, impacted by the West Asia war and temporary production disruption due to a fire incident at the facility of one of its key suppliers, Mobis.

In Q1 FY27, owing to the disruptions, Hyundai India's exports were down 19.6% at 38,708 units as compared to 48,140 units registered in the corresponding period of last financial year. However, with the headwinds having subsided, Hyundai is expecting the export numbers to improve in this quarter.

HMIL's Managing Director and CEO Tarun Garg said that the US-Iran conflict, which started towards the end of FY26, continued to impact the company's Middle East exports during Q1 FY27. "Further, export volumes were also affected by the temporary production disruption in June," Garg told analysts, while adding, “The underlying fundamentals of our export business remain strong. We continue to maintain a healthy order backlog across key markets, and customer demand remains robust." He further said that, supported by healthy backorders, continued portfolio expansion, and the OEM's resilient operations, Hyundai is expecting strong recovery in export volumes from the second quarter onwards and remains confident in delivering its stated overall full-year growth guidance of 8-10%.

Hyundai Venue to be a key player in exports growth

Hyundai Venue is projected to be a key player in the company's export growth. Garg said that the new Venue continues to receive an encouraging response in export markets alongside the domestic market. The new Venue, which is already available in 29 markets globally, has started receiving orders, and HMIL is planning for 35 total markets in the near future.

The Exter LHD, which HMIL has launched for the first time, is starting shipment in this quarter. "We will reach 13 markets by Q3, and Verna PE also from June we have started, and will reach more than 25 markets by Q3," he said, while also adding, “These models should further strengthen our product offerings and competitiveness in export markets."

Speaking on possibilities if the company could recover its exports to the Q1 FY26 level of around 48,000 units in a quarter, Garg said, “Our aspirations are much higher. We expect to do better than a 48,000-unit quarter in the coming quarters on the export front."

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