Hyundai Motor, South Korea’s leading automaker, achieved record sales in India in the first half of this year. According to data from the Federation of Automobile Dealers Associations of India (FADA), Hyundai sold 272,207 units from January to June 2024, marking a 2% increase from the 266,760 units sold during the same period in 2023. This represents the highest first-half sales figure for Hyundai in India.
Investor relations data from Hyundai indicated that the company’s Indian plant sold a total of 259,659 units locally from January to May. Hyundai’s market share in the Indian passenger vehicle market for the first half of the year stood at 13.8%, ranking second behind Maruti Suzuki. Tata Motors secured third place, followed by Toyota Motor and Kia.
Despite the recent sales boost, Hyundai has experienced a decline in its market share in India over the past few years, dropping from 17% in 2021 to 14.1% by 2023. The company has filed for an initial public offering (IPO) worth Rs 25,000 crore (approximately $3 billion) for its India unit, aiming to bolster its market position and address the competitive pressures.
