Hyundai India looks to maintain leadership position in SUV segment in 2022
Hyundai Motor India is aiming to maintain its leadership position in the SUV segment this year as well, after having dominated the segment in 2020 and 2021 with the sale of over 1.8 lakh and 2.5 lakh SUVs, respectively. The demand for its models like Creta and Venue have continued to be robust.
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The company sold 1.25 lakh units of new-gen Creta in 2021 alone and sold over 2.15 lakh units of the model since its launch in March 2020. Cumulatively, the vehicle has registered a sale of over six lakh units in the domestic market since its launch in 2015.
Hyundai has sold over 8.34 lakh SUVs in the last five years, driving the growth of the preference for SUVs. Its Venue model has also played a key role in the SUV success story with over 2.6 lakh units sold since its launch in May 2019. In 2021 alone, Hyundai Venue recorded a sale of over 1.08 lakh units. The carmaker's latest SUV Alcazar witnessed a sale of over 17, 700 units since its launch in June 2021.
This is especially interesting at a time when SUV sales have been growing in the country at a fast pace. In year 2020, SUVs accounted for around 29 per cent of the overall passenger vehicle sales in the country, which went up to 37 per cent in 2021.
The company's India Director - Sales, Marketing and Service, Tarun Garg told PTI that the company has sold over 8.34 lakh SUVs in the past five years. "So, we feel confident that we should continue to do well as far as the SUV space is concerned. We have a complete range which puts us in an advantageous position," he noted.
Garg added that the SUV segment continues with its unabated growth and the company is well-positioned to lead the space. He added that the shift towards SUVs would continue in the domestic market as the vehicles have become a kind of status symbol for buyers. “There is also a perception that SUVs are safe. Besides, high ground clearance is an additional benefit to driving in any kind of terrain," he said.
However, Garg also noted that the unprecedented demand for SUVs has led to an increased waiting period and the company is making all efforts to ramp up the production.