Hyundai, Kia Post Strong Sales Growth in India Driven by SUVs
Quick Look
- Hyundai Motor Co. and Kia Corp. saw significant sales growth in India from January to May, largely due to high demand for their SUV models like the Creta, Venue, Seltos, and Sonet.
- Hyundai ranked fourth and Kia sixth in the Indian passenger vehicle market.
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Why It Matters
Hyundai Motor Co. and Kia Corp. have experienced significant sales growth in India during the first five months of the year, primarily due to the popularity of their SUV models.
SEOUL, June 21 (Yonhap) -- Hyundai Motor Co. and Kia Corp. posted robust sales growth in India during the first five months of the year, driven by strong demand for their sport utility vehicle (SUV) lineups, industry data showed Sunday.
Hyundai's passenger vehicle sales in India reached 266,317 units in the January-May period, up 10.1 percent from a year earlier, according to the data from the Society of Indian Automobile Manufacturers (SIAM).
Kia also recorded robust growth, with sales rising 14.6 percent on-year over the cited period, the data showed.
As a result, Hyundai ranked fourth in India's passenger vehicle market behind Maruti Suzuki, Tata Motors and Mahindra & Mahindra, while Kia placed sixth, trailing Toyota.
Combined sales of the two affiliates under Hyundai Motor Group totaled 405,514 units in the January-May period, up 11.6 percent from a year earlier.
The companies' SUV lineups were the main driver of growth.
Hyundai's bestselling SUVs, the Creta and Venue, accounted for more than half of its total sales during the period.
At Kia, strong demand for the Seltos and Sonet helped drive growth, with the two SUVs accounting for 76.3 percent of the company's sales in India.
Open Questions
- Will this trend continue in the second half of the year?
- How will competition affect future sales?
