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With easing of semi-conductor chip shortage, the country’s second largest passenger vehicle manufacturer, Hyundai Motor India (HMIL), expects its highest ever sales in the current calendar year.
“Things are easing out on the semi-conductor situation...you can see that it has been reflected in our sales numbers also and we are on our way to achieve the highest-ever domestic sales in calendar year 2022,” Tarun Garg, Director-Sales, Marketing, Service at the company told BusinessLine on the sideline of a launch.
The company on Tuesday launched Venue N Line in two trims priced at ₹12.16 lakh and ₹13.15 lakh (ex-showroom).
Unprecedented milestone
“In the 2018 calendar year, HMIL achieved 5,50,002 units, but in 2019 because of global economic issues it was not good, then Covid hit. In calendar year 2022, finally, we will surpass domestic sales of 2018 and it will be the highest-ever in the history of Hyundai in India,” Garg said.
The company sold 5.10 lakh units in 2019, 4.23 lakh units in 2020, and 5.05 lakh units in 2021. This year, between January and August, HMIL sold around 3.68 lakh units, he added.
He said during the last few years, the company’s focus on SUVs helped the situation. In 2022 alone, during the January-August period, SUV sales went up 41 per cent in the industry, and 53 per cent to HMIL’s overall PV sales, he noted.
Expanding the portfolio
“Very clearly, customers are going for SUVs and with that in mind, we have launched the Venue N Line which is the sixth SUV in our portfolio. It is one year now that we have launched the i20 N Line (the first N Line series) and we have got a very good response till now. We expect the Venue N Line to contribute 10,000 units in next one year, to the total PV sales,” Garg said, adding that both i20 N Line and Venue N Line can contribute around 16,000 units to the total PV sales next year.
Also read: Sedan segment gains momentum in overall passenger vehicle sales
The other five models in the SUV range include Venue, Creta, Alcazar, Tucson and Kona Electric.
The Venue N Line comes with a 1-litre turbo petrol engine mated with seven-speed DCT (automatic) transmission. Globally, Hyundai sells N Line trims, which come with sporty enhancements, in Europe, South Korea, the US and Russia, among others. Its first N-branded vehicle was the i30 N, released in 2017.
When asked about the waiting period, Garg said it is two to three months. Currently, there is a backlog of over 1.3 lakh units.
Also read: August auto sales on the fast lane
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