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Hyundai Motor India Achieves Record-breaking Annual Sales in FY 2023-24

Gurugram, April 01, 2024 – Hyundai Motor India Ltd. (HMIL) has announced an unprecedented achievement in its sales performance for the financial year 2023-24, setting a new record with the highest ever total sales of 7.77 lakh units, marking an 8.0% growth year-over-year. This landmark achievement is accompanied by the highest domestic sales record since the company’s inception, totaling 6.14 lakh units, demonstrating a robust demand for Hyundai’s product lineup in India.

In the fiscal year ending March 2024, Hyundai Motor India solidified its position in the global market with a commendable export performance, dispatching over 1.63 lakh units overseas, witnessing a growth of 6.7% over the previous year. The company continued its growth trajectory in March 2024, with total sales reaching 65,601 units, encompassing 53,001 units sold within the domestic market and 12,600 units exported, thereby registering a 7% increase over the last year.

Hyundai’s success is attributed to the stellar performance of major models such as the Ioniq 5, Creta, Exter, and Aura, all of which achieved their highest ever annual sales figures. The year was marked by the introduction of several new models and product upgrades including the Exter, new Creta, Creta N LINE, new i-20, and the introduction of Advanced Driver-Assistance Systems (ADAS) in Hyundai Venue and Venue N Line.

Tarun Garg, COO of Hyundai Motor India Limited, reflected on the success, stating, “FY 23-24 sales of 7.77 lakhs units is a testament to the tremendous acceptance of our diverse product lineup, underscored by an 8% year-on-year growth. These record-breaking numbers are the highest sales reported by HMIL since its inception.”

The company’s dedication to technology and innovation has been well received by both customers and critics alike. Notably, the Exter, Verna, and Ioniq 5 were awarded the prestigious ‘Car of The Year’ title by prominent Indian Automotive media, collectively garnering over 50 awards for HMI in this fiscal year.

As Hyundai Motor India looks ahead to the 2024-25 financial year, Garg assures continued efforts towards enhancing customer satisfaction and value, promising more exciting developments in the near future.

Financial Year 2023-24 Sales:
HMIL SalesFY 23-24FY 22-23% Growth
Domestic6 14 7215 67 5468.3%
Exports1 63 1551 53 0196.7%
Cumulative7 77 8767 20 5658.0%
March 2024 Sales:
HMIL SalesMarch 2024March 2023% Growth
Domestic53 00150 6005%
Exports12 60010 90016%
Total Sales65 60161 5007%
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