Auto Sales June 2024: Hyundai Reports Mixed Sales Results

Hyundai Motor India Limited (HMIL) has released its sales figures for June 2024, showing a slight decline in total sales compared to the same period last year. The company reported total sales of 64,803 units, comprising 50,103 units in domestic sales and 14,700 units in exports.

Despite the marginal decrease in June, HMIL's performance for the first half of 2024 shows positive growth. The company achieved total sales of 385,772 units in H1 2024, representing a 5.68% increase year-over-year.

Tarun Garg, COO of Hyundai Motor India Limited, highlighted the strong performance of the company's SUV lineup, which accounted for 66% of domestic sales in H1 2024. The new Hyundai CRETA has been a significant contributor to this success, with 91,348 units sold in the domestic market during H1, marking an 11% growth compared to the same period last year.

Domestic sales in June 2024 remained relatively stable with a slight 0.20% increase, while exports saw a 5.77% decline compared to June 2023. However, the overall H1 2024 results show growth in both domestic (4.65%) and export (10.11%) segments.

In related news, HMIL has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), proposing an initial public offer of its equity shares. This is slated to be the country’s largest public offering ever and from a four-wheeler manufacturer ever since Maruti Suzuki. To learn more about the same, click on the link here.