South Korea’s auto giants Hyundai and affiliate Kia have recorded their highest-ever sales in India for the first quarter of this year. India is the third-largest car market in the world, following China and the U.S.
According to the Society of Indian Automobile Manufacturers (SIAM) on April 13, Hyundai sold 153,550 vehicles, while Kia sold 70,576 units in the first three months of the year. Kia’s sales are the highest since it entered the Indian market in 2019.
Together, the two brands sold 229,126 vehicles, a 1.5% increase from last year’s record of 225,686 units during the same period, with Hyundai selling 160,317 units and Kia 65,369 units.
The sales boost is attributed to the popularity of locally made models and the growing demand for SUVs. In the January-March period, SUVs accounted for about 80% of Hyundai and Kia’s total sales, reaching 181,758 units, with models like the Creta, Venue, Sonet, and Seltos making up more than half of these sales.
To sustain this growth, Hyundai and Kia have developed long-term strategies for the Indian market. Hyundai acquired a GM plant in Pune, Maharashtra, in 2023 and is preparing to begin operations in the second half of this year.
Hyundai also became the first overseas subsidiary to list its Indian division, Hyundai Motor India Limited (HMIL), on the Indian stock market. In December, Hyundai and Kia signed an agreement with the Indian Institute of Technology to establish a joint innovation center.
