Hyundai Motor India Reports 7% YoY Sales Growth in May, Strong SUV and Export Performance

Hyundai Motor India Ltd (HMIL) reported a 7% year-on-year increase in total sales, with 63,551 units sold in May. Of these, 49,151 units were domestically dispatched to dealers, marking a 1% rise from the previous year. Exports also saw a 31% growth, with 14,400 units shipped compared to 11,000 units in the year-ago period. Despite a week-long routine bi-annual maintenance shutdown at the Sriperumbudur factory, HMIL’s COO Tarun Garg noted that they maintained a healthy total sales volume in May 2024. SUVs remained a significant driver of growth, accounting for over 67% of domestic sales, while rural penetration stood at a healthy 20.1% in May.