Hyundai sells over 3.49 lakh cars globally in May, 14% of these in India alone
- Hyundai says easing of supply-side pressures in the US, Europe and India is helping its sales growth.
Hyundai Motor Company counts his home base of South Korea, China and the US among its largest markets in terms of sales but India remains extremely crucial to the automaker as well. The company traces its roots here back to several decades and its performance in India has a bearing to its overall fortunes.
In the month of May, the company sold 3,49,194 units in markets across the world, including India. Of this figure, 68,680 cars were sold in South Korea alone while 48,601 units were sold in the domestic Indian market. This means India accounted for around 14 per cent of the company's overall global sales in the month.
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The May performance for the company has been in the positive with overall sales, sales in South Korea and in rest of the world, all registering growth when compared to figures from the same month in 2022. While demand remains largely solid in many markets where Hyundai competes in, a chunk of the credit may also be reserved for easing of supply-side pressures. “The gradual recovery from the global parts shortage and production stabilisation have helped the company secure solid performance in North America, Europe and India," a press statement from the company informed.
Hyundai also reports that its electric vehicles are faring quite well and that the company sold 23,000 of such vehicles in global markets last month. In India, while Hyundai does offer the Kona and recently drove out the Ioniq 5, both models remain very niche offerings.
Watch: Hyundai Ioniq 5 Review: First Drive Impressions
The power push for Hyundai in India continues to come from SUV models like Creta and Venue but all eyes are now also on the Exter. The entry-level SUV will sit below Venue in the product pyramid and ignite a direct fight against Tata Punch and Maruti Suzuki Fronx.
