Hyundai Motor India records highest-ever sales of 7.77 lakh units in FY24

Hyundai Motor India (HMIL) on Monday said it registered highest-ever domestic sales of 6.14 lakh units in the financial year (FY) 2023-24 with a year-on-year (y-o-y) growth of 8.3 per cent over last year.

It also recorded the highest ever annual total sales of 7,77,876 units in FY 2023-24, growth of eight per cent as compared with 7,20,565 units in FY 2022-23.

In terms of monthly sales, its total sales were recorded at 65,601 units (domestic: 53,001 units and exports: 12,600 units) in March, an increase of seven per cent y-o-y over 61,500 units over March 2023, the company said.

• Also read: February sees record growth in passenger vehicle sales

“FY 23-24 sales number of 7.77 lakh is a testimony to the great acceptance of our diverse product line-up with 8 per cent year-on-year growth over last year in total sales. In the domestic market, HMIL sales surged by 8.3 per cent in 2023-24 against the previous year. These are the highest sales reported by HMIL since inception,” Tarun Garg, Chief Operating Officer, HMIL, said.

In 2023-24, HMIL launched many new models as well as product upgrades including Exter, new Creta, Creta N Line, new i-20 and introduction of ADAS in Hyundai Venue and Venue N Line, he said.

“As we move forward into 2024-25, we will continue to work diligently towards creating more excitement and enhanced value for our beloved customers,” Garg added.

Meanwhile, Toyota Kirloskar Motor (TKM) also reported a record sales of 2,63,512 units in FY 23-24, a jump of 48 per cent y-o-y as compared with 1,77,683 units in the previous financial year.

In the month of March, TKM recorded a 25 per cent y-o-y growth by selling 27,180 units as compared to 21,783 units in March 2023.

‘XUV700’ maker Mahindra & Mahindra (M&M) reported a growth of 28 per cent y-o-y in its annual sales to 4,59,877 units as compared with 3,59,253 units in FY 2022-23.

In the monthly sales, its domestic sales recorded a growth of 13 per cent y-o-y to 40,631 units of passenger vehicles as against 35,997 units in the same month last year.

“We ended the financial year FY24 on a positive note...in March, we sold a total of 40,631 SUVs, with a growth of 13 per cent and 68,413 total vehicles, a 4 per cent growth over last year,” Veejay Nakra, President, Automotive Division, M&M, said.

However, MG Motor India reported a y-o-y decline of 23 per cent in its retail sales to 4,648 units in March as compared with 6,051 units in March 2023.

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