Hyundai's production recently crossed the 90 lakh (9 million) mark in India. The Korean auto-maker has also seen an increase in its market share in India, despite the slowdown currently plaguing the industry.
Hyundai motors India has reached another iconic milestone. The South Korean manufacturer has just rolled out its 9 millionth vehicle in India, after 21 years and 12 days of commercial operations in our country.
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Apart from that, Hyundai has also reported a 2.77% increase in market share, from 16.54% to 19.51% during the period of April 2019 to August 2019. While the increase in market share looks like good news for the brand, its sales figures aren’t very encouraging. Reports state that 2,03,729 units were sold during the aforementioned period, down from 2,26,396 units sold during the same period last year. Monthly sales figures were up from 38,205 units in August 2019 to 40,705 in September 2019, though they were down 14.81% compared to last year's 47,781 units sold in September 2018.
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Hyundai Motors India Limited (HMIL) holds the second largest share in the Indian market, behind Maruti Suzuki India Limited (MSIL). The latter currently holds 47.59 % share, down from 50.34% in January 2019. Maruti has also suffered a Year-on-Year decrease in sales of 27.1%, with a total of 1,10,454 units sold in September 2019 compared to 1,51,512 units in September 2018.
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One contributing factor to Hyundai’s growth in India is the recently launched Hyundai Venue, which managed to overtake the Maruti Suzuki Vitara Brezza to become the best selling sub-compact SUV in the segment. Other popular Hyundai models what have helped with the growth include Hyundai i20 elite, Hyundai Grand i10, and the new Grand i10 Nios.