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The country’s second largest passenger vehicles maker, Hyundai Motor India Ltd (HMIL), continued to top the sports utility vehicle (SUV) segment, with its Creta and Venue clocking sales of about 54,100 units during April-August 2020. The carmaker is now gearing up for the festival season.
While in the low SUV segment (priced under ₹20 lakh), the company topped the list with Creta at 33,726 units, beating rivals like Kia Seltos, Mahindra Scorpio and MG Hector, the company has also done better than its rivals in the compact (sub-4 metre) SUV segment with Venue, at 20,372 units.
Going forward, the competition is likely to gain momentum with the Kia Sonet launch on Friday and Toyota’s launch of Urban Cruiser on September 23, and Hyundai appears prepared for that. These two new compact SUVs will be competing with the likes of the Venue, Maruti Suzuki Vitara Brezza and Mahindra XUV300.
“As we etch closer to the highly anticipated festival season, Hyundai has been gearing up to adequately to meet a stimulation in demand with its Irungattukottai facility (near Chennai) operating at 99.9 per cent capacity. The company anticipates a positive outlook for the upcoming festival season that will showcase the bright side of unlock times and dilute elements of uncertainty,” SS Kim, MD and CEO, HMIL told BusinessLine .
Online queries
Kim added that with a noticeable shift in customer preference, Hyundai’s online enquiries have been gaining momentum across metros while footfall in tier 2 and 3 cities has been rapidly increasing due to the relatively lower spread rate of the pandemic.
Apart from the utility vehicles segment, Hyundai’s recently launched new Verna has also emerged as a winner in the mid-high sedan segment. It recorded sales of 5,321 units in April-August, beating rivals such as Honda City and Maruti Suzuki Ciaz.
These products have also helped HMIL gain market share in August, said Kim.
Domestic market share
“With a robust line-up of stellar products and segment leading product technologies, Hyundai has witnessed a steady revival in business momentum that is reflected through the positive growth of 20 per cent year-on-year domestic sales for August. Furthermore, recording domestic sales of 45,809 units in August, the company has also attained its highest ever market share in India,” he added.
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