The Korean carmaker has taken 21 years to achieve the landmark of 5 million cars in the domestic market.
28 Nov 2017 | 4048 Views | By Mayank Dhingra
Hyundai Motor India (HMI), which, over the span of 21 years, has established itself as the No 2 player in the passenger vehicle segment, today rolled out its five millionth car for the domestic market – a third-generation Hyundai Verna sedan, from its assembly line at the Chennai plant.
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Hyundai Motor India (HMI), which, over the span of 21 years, has established itself as the No 2 player in the passenger vehicle segment, today rolled out its five millionth car for the domestic market – a third-generation Hyundai Verna sedan, from its assembly line at the Chennai plant.
The Korean carmaker, which entered the Indian market in 1996 and commenced its innings with the entry-level Santro hatchback, has achieved the milestone of producing 50,000,000 cars from its manufacturing facility situated in Chennai, Tamil Nadu. The five-million mark has come up within 24 months from the company surpassing its 4-million mark in November 2015, and 10 years and 7 months after hitting its first million milestone in April 2007.
The latest iteration of the popular Verna sedan was launched in August this year, and the car has cumulatively sold 15,534 units until October 2017. The new Verna has brought some pep back into the company’s sales and surged its H1 FY2018 average from 14,000 to 20,000 units with its introduction.
A jubilant Y K Koo, MD and CEO, Hyundai Motor India, said, “Hyundai has a remarkable journey in India. Today, we are very happy to roll out the five-millionth car with the next-gen Verna in the Indian market. We thank our valuable customers and partners for their support and trust in Hyundai.”
The company sold 49,588 units in the domestic market in October 2017, claiming a market share of 17.72 percent. In the period between April-October 2017, the carmaker has sold a total of 314,753 units (+4.50%), to take a market share of 16.47 percent. Its three models, the Grand i10 (October 2017: 14,417), Elite i20 (11,012) and the Creta SUV (9,248) have been registering good performance, and now the Verna looks to do the same.