Hyundai has 65,000 pending bookings, over half for the Creta. The company stated that the Creta N Line’s popularity is driving new, younger customers
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Hyundai Motor India continues to witness robust growth, with its SUV lineup leading the charge. In May 2024, the automaker reported that SUVs accounted for a substantial 67 percent of its overall sales, totaling 49,151 units. The Hyundai Creta emerged as the top performer, with 14,000 units sold, followed by the Venue with over 9,000 units and the Exter with over 7,900 units.
The popularity of the Creta is further underscored by its significant share of pending bookings. Hyundai currently has around 65,000 pending bookings, with more than half of these orders being for the Creta alone. In a recent press conference, Hyundai’s Chief Operating Officer, Tarun Garg, spoke about the high demand for the Creta N Line. Customers are willing to wait up to 10 weeks to get their hands on this popular model, he said. Garg emphasised that the N Line isn’t just about selling a lot of cars, instead, they prioritise providing a unique option for those seeking something special. He expressed optimism that N Line models could reach a combined total of 15,000 in sales every year.
A noteworthy trend in Hyundai’s sales data is the parity between rural and urban SUV sales. In both regions, SUVs constitute 67 percent of total sales. This marks a significant shift from previous years when rural demand lagged behind urban markets by 5-7 per cent. People in rural areas are looking for cars that are both good-looking and practical, Garg noted.
As a result, Hyundai’s growing presence in these areas is leading to more and more sales. The company’s rural sales share has risen from 18 per cent in FY 2021-22 to 19.8 percent in FY 2023-24. Hyundai projects this upward trend to continue, aiming for rural sales to reach the 20 percent mark by the end of the current fiscal year.
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In rural markets, the Creta remains the top choice among consumers, followed by the Venue and Exter. This trend reflects overall market dynamics, showing a consistent pattern of consumer behavior across regions. Garg highlighted Hyundai’s success in rural areas, attributing it to the brand’s ability to cater to evolving consumer needs, particularly the growing demand for advanced technological features.
A significant portion of Hyundai’s sales—30 per cent—are vehicles equipped with Advanced Driver Assistance Systems (ADAS). In April, ADAS-equipped variants accounted for 27 per cent of Verna sales and 41 per cent of Creta sales. Additionally, 75 per cent of Hyundai Exter customers chose variants with a sunroof, underscoring the increasing preference for premium features among consumers.
First Published Date: 03 Jun 2024, 09:59 AM IST