Hyundai got a setback before the festival, there was a huge drop in the sales of the company's cars
Hyundai Motor India Limited (HMIL) reported a significant drop in its overall sales last month amid the global chip crisis. The carmaker sold 45,791 of the units sold in September, a decline of nearly 24 percent from the same period last year. Hyundai had sold 59,913 units in September last year.
Hyundai said its domestic sales declined by more than 34 percent to 33,087 units last month. In the same period last year, Hyundai sold 50,313 units. However, Hyundai's exports have increased by 34.3 percent to 12,704 units. In August this year, Hyundai sold 46,866 units in the Indian market, a marginal increase of 2.3% over August 2020. Hyundai sales declined in September as compared to August this year.
Hyundai has launched two flagship models this year. Firstly it launched its first three-row SUV Alcazar for the Indian market. Later, it also introduced its first N-line model, the i20.
The Alcazar was launched in June this year at a starting price of ₹16.30 lakh and was placed against a few other three-row SUVs like the Tata Safari and MG Hector Plus. With the launch of Mahindra XUV700 on Thursday, the Alcazar now faces a lot of competition. In less than a month of launch, Alcazar has received over 11,000 bookings. But it has not strengthened much, as the carmaker reported that by the end of July, bookings only crossed 14,000.
Hyundai Creta, which has been one of the biggest success stories for the Korean carmaker in India in recent times, this time too failed to generate sales numbers. The Hyundai Creta has been consistently leading the compact SUV segment in terms of sales for the past several months. Both the Creta and the Alcazar have ensured that Hyundai remains the leader in the SUV market in India.
Hyundai also launched the i20 N line model in India early last month. Launched at ₹ 9.84 lakh, it is targeted at urban enthusiasts. Hyundai expects the success of the i20 model to extend to its first N-line model for India as well.