Creta’s pending orders stand at around 35,000 units, which is half of the brand’s total order backlog.
The Hyundai Creta is seeing its sales reach new heights with each update. The Creta facelift, which went on sale in January this year, has registered a 12.5 percent year-on-year growth, to average over 15,000 units every month. In April 2024 itself, Hyundai India sold 15,447 units of the Creta.
Hyundai’s orderbook currently stands at 70,000 units
Hyundai says the Creta commands over 50 percent of its total order book. The Creta currently has pending bookings of around 35,000 units; that’s half of the company’s total order book, which stands at 70,000 units by end-April 2024. Since the launch of the Creta facelift, Hyundai says it has added over one lakh fresh orders for the midsize SUV.
“A 12.5 percent YoY growth in the domestic market is on top of a similar growth registered last year. Therefore, the kind of demand the Creta has been able to generate in the domestic market is astounding, and Creta is the flagbearer of the growing SUV demand in the country,” said Tarun Garg, COO, Hyundai Motor India, in a virtual media interaction.
67 percent of Hyundai’s sold in India are SUVs
Hyundai also announced that it has sold 67 percent or roughly 35,140 SUVs out of its total volumes of 50,201 units in April 2024. 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, HMI is confident of fulfilling its pending bookings swiftly, owing to an improved supply chain situation, particularly with respect to chip supplies.
Hyundai India line-up: what’s next?
Hyundai is readying two new product introductions for India. The brand will bring a heavily updated Alcazar SUV later this year and following that, the Creta EV, Hyundai’s first mass-market electric SUV, will go on sale early next year.
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Hyundai India to launch hybrid cars, SUVs by 2027