Sports utility vehicles (SUVs) now account for a strong 64 percent of Hyundai’s total sales. The demand for SUVs has been driven up by the launch of the new Exter, which has received 65,000 bookings so far and has a six-month waiting period. In H1 of 2023, SUVs were 54 percent of Hyundai’s sales and after the launch of the Exter, the SUV share has risen to 64 percent.
Tarun Garg, Chief Operating Officer (COO) of Hyundai Motor India Ltd, while speaking to CNBC-TV18, said that SUV demand is almost equally strong in rural and urban areas. “19 percent of sales came from rural areas in August. SUV demand is equally good in both rural and urban areas. This is because of better road infrastructure and better internet connectivity in villages now,” he added.
Garg said that the festive season has been off to a good start with the company seeing a 10 percent growth in sales in Kerala during Onam. Overall, Hyundai expects a 9-10 percent growth in passenger car sales during the entire festive season compared to last year.
