Hyundai Motor India has raced ahead of its rival Maruti Suzuki and Mahindra & Mahindra (M&M) in July to grab the top slot in India’s competitive SUV segment.
The growth come on back of newly launched and high demand from its recently launched SUV Hyundai Venue.
- Hyundai sold 16,234 utility vehicles last month against 16,003 units at M&M and 15,871 units by Maruti Suzuki in SUV segment
- About 60% of the volumes for Hyundai came from Venue, which sold 9,585 units last month
- This is almost double of that for Maruti Suzuki Vitara Brezza and Mahindra XUV300, which clocked wholesale volumes of 5,302 units and 4,464 units, respectively.
- Venue has done exceptionally well for Hyundai. It Managed over 50,000 bookings for the car in just 60 days of its launch.
- Hyundai market share is now 21%, with the combined sales of Venue, Creta and Tucson
- Maruti Suzuki managed to retain the lead in the utility vehicle segment, although sales fell 10% to 58,984 units in Q1.
- Hyundai, with the newly-launched Venue, managed to expand volumes in the space by 37% to 43,957 units in an otherwise sluggish market