Hyundai Motor and Kia have made waves in the Indian market, posting record-breaking sales figures for the first quarter of this year. The Society of Indian Automobile Manufacturers(SIAM) reports Hyundai and Kia both sold 229,126 units in total, with Hyundai selling 153,550 units and Kia selling 75,576. This represents a 1.5% increase compared to the same period last year.
The impressive performance can be attributed to the surging popularity of sport utility vehicles (SUVs). SUV sales accounted for a whopping 80% of Hyundai and Kia’s total sales, with models like the Creta, Venue, Sonet, and Seltos leading the charge. Hyundai’s Creta emerged as the top seller, with 48,449 units sold, while Kia’s Sonet and Seltos also showed strong numbers, selling 22,497 and 19,441 units, respectively.
In a strategic move to bolster its presence in India, Hyundai is set to acquire General Motors’ Pune plant in Maharashtra. The Korean automaker aims to kick off operations in the second half of this year, with an annual production target of 200,000 vehicles. Furthermore, Hyundai Motor India’s recent listing on the Indian stock market last October has reinforced its economic foothold in the region.
Hyundai and Kia are doubling down on their commitment to the Indian market through a partnership with the Indian Institute of Technology. This collaboration has led to the establishment of the Hyundai Innovation Center and is accelerating the development of India-specific micro-mobility solutions. These strategic initiatives are expected to play a crucial role in driving long-term growth for both brands in the Indian automotive landscape.
A spokesperson for Hyundai and Kia stated that both companies are committed to strengthening their position by developing a mobility ecosystem tailored to the unique needs of the Indian market. This expansion underscores the importance of India, the world’s third-largest automotive market, to Hyundai and Kia’s global operations.
Hyundai and Kia have consistently built brand recognition among local consumers since they entered the Indian market in 2008. Their success in having multiple models named India Car of the Year has been instrumental in this effort. This ongoing success story is expected to provide a solid foundation for both brands to further cement their standing in the competitive Indian automotive sector.
