Creta dominates Hyundai India order book in April 2024
New Delhi: The Hyundai Creta is seeing its sales reach new heights with each update. The Creta facelift, which went on sale this January, has registered a 12.5 percent year-on-year growth, averaging over 15,000 units every month. In April itself, Hyundai India sold 15,447 units of the Creta.
Hyundai’s orderbook currently stands at 70,000 units
Hyundai announces that the Creta commands an impressive share of over 50 percent within its total order book, which currently stands at approximately 70,000 units. Since the launch of the facelift, Hyundai has witnessed a remarkable surge, with over one lakh fresh orders placed for the midsize SUV.
Tarun Garg, Chief Operating Officer of Hyundai Motor India, emphasized the significant growth trajectory in the domestic market, noting a commendable 12.5 percent year-on-year increase. He highlighted the exceptional demand witnessed by the Creta, positioning it as a pivotal player driving the escalating SUV demand nationwide. Garg shared these insights during a virtual media interaction, underscoring the Creta’s pivotal role as a flagbearer in the burgeoning SUV segment.
67 percent of Hyundai’s sold in India are SUVs
Hyundai also announced that 67 percent or roughly 35,140 units sold in April 2024 were SUVs. Of this, the Creta accounted for 15,447 units, the Venue sold 9,122 units, while the Exter contributed 7,756 units.
Moreover, Hyundai India is also witnessing an equilibrium in SUV penetration in both sub-urban and urban markets, with both registering a 67 percent contribution from Hyundai’s key SUVs – Creta, Venue, Exter, and Alcazar. “The growing aspirations, disposable incomes and minimising preference differences between customers of the two markets are the key drivers towards this phenomenon. While aspirations continue to improve in sub-urban India, there are significant advancements in road infrastructure that are further driving sub-urban growth,” Garg explained.
Hyundai has 43,000 cars, SUVs ready for delivery
While Hyundai Motor India is presently sitting on an inventory of 43,000 units – or about 22 days worth – the industry inventory is estimated to be at 3,60,000 units by end-April 2024. “We are sticking to 22 days of inventory, which is the optimal level, while the industry is sitting at an inventory of six weeks. We will continue to maintain this level of inventory going forward,” he added. Despite a healthy order book, HMIL is confident of fulfilling its pending bookings swiftly, owing to an improved supply chain situation, particularly with respect to chips.
