Registering an exponential jump of over 10% in its market share from last year, Hyundai Motor India now commands a healthy 11.04% in the UV segment from a mere 0.34% in 2014-15.
14 Apr 2016 | 8145 Views | By Shourya Harwani
With the overwhelming success of its made-for-India Creta SUV, Hyundai Motor India has now become the fourth largest utility vehicle seller in India after Mahindra & Mahindra, Maruti Suzuki India and Toyota Kirloskar Motor.
Registering an exponential jump of over 10% in its market share from last year, Hyundai ...
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With the overwhelming success of its made-for-India Creta SUV, Hyundai Motor India has now become the fourth largest utility vehicle seller in India after Mahindra & Mahindra, Maruti Suzuki India and Toyota Kirloskar Motor.
Registering an exponential jump of over 10% in its market share from last year, Hyundai Motor India now commands a healthy 11.04% share in the UV segment from a mere 0.34% in 2014-15.
In terms of market share, Hyundai overtook established UV players like Ford India, Renault India and Tata Motors. The company sold a total of 64,796 UVs in the year ended March 31, of which the sales of the Creta totaled a staggering 98% with 63,836 units.
With its stellar sales performance, the Creta also became the second most sold UV in India in 2015-16 after the Mahindra Bolero, which ended the fiscal with sales of 67,484 units.
Since its launch in July, the Creta has been a true game-changer for Hyundai in India and took the SUV market by storm. With average monthly sales of around 7,000 units, it was a regular feature among the Top 10 most sold cars in the country throughout the year and established Hyundai as a force to reckon with in the fast-growing SUV market in India.
Recently, the company revealed that the SUV crossed the 100,000 bookings milestone and simultaneously announced a ramp up in production to 13,000 units a month.
The Creta has seen good response from the global markets as well after the company started exports to Latin America (Colombia, Costa Rica, Peru and Panama), Middle East (Oman, UAE, Saudi) and Africa (Egypt, Morocco and Nigeria).
While commenting on the milestone, YK Koo, managing director and CEO, HMIL, had said: “As in the domestic market, the Creta has generated great response in global markets with more than 28,000 orders. To reduce the waiting period, we are increasing production by 30% to 13,000 units of which 10,000 units will be allocated for the domestic market.”