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Informist, Thursday, Oct. 30, 2025

By Anand JC and Arundathi AR

MUMBAI – At a time when Hyundai Motor India Ltd. is seeing poor sales of its cars in India, the company is banking on its refreshed model cycle to rev-up interest for its cars, starting with the new Venue which will be launched in November. "November onwards, we expect to really grow with the industry going forward and aided not only by the model cycle, but also, of course, you know, the interventions which we are going to make (in the product pipeline)," the company told analysts in a post-earnings conference call on Thursday.

Hyundai Motor intends to launch 26 models by 2029-30, which include model refreshes and facelifts, the company had said during its Investor Day in September. 

The company has been shedding market share in the local market even as its export performance remains robust. The company sold 190,921 cars in the September quarter, down marginally on year. Domestic sales fell nearly 7% but exports surged 22%. This poor show in domestic car despatches was despite the cut in goods and services tax and the festival season. However, retail sales during the festival period of Navratri to Diwali grew 23% on year, the company's management said.

During the festival period, Hyundai Motor's Exter and Venue saw good growth. "So, we had some limitations in terms of the old Venue (older variant) stock, so we lost out on that. But very clearly, the festive and the GST (cut) is giving a big impetus to the Venue and Exter segment, and the Nov. 4 launch of Venue should help," the company said. Hyundai Motor saw a growth of 20% in retail sales in September and October, which it said was much better than during January to August.

The Creta maker reported a consolidated net profit of INR 15.72 billion for the September quarter on revenues of INR 174.61 billion. 

The company's export market performance has supported its overall sales growth despite a domestic lull, which it expects to continue. The company had previously guided for a 7-8% growth in its exports for FY26, which it now expects to exceed. Growth in West Asian and African markets was around 35% in the September quarter, it said.   

Hyundai Motor said that it offered a discount of 3.2% on the average selling price of its cars during the September quarter, which has moderated sequentially. "This is despite the market condition. As you already know, the industry has been giving further price cuts over and above the GST cuts," the company said. "We were able to follow a disciplined approach on the discounting plan," it added.

The company refrained from offering higher discounts despite its "not-so-good" model cycle. "Right from the IPO time, we have maintained that we believe in quality of sales. We believe in the balance between volume and profit," Hyundai Motor said. Further, the company does not see discounts increasing beyond the current levels, and said that it has peaked out.

Hyundai Motor was able to reduce costs during a quarter which saw an uptick in prices of key commodities. This was because of increased localisation efforts, it said. The company is currently localising 82% of its production, up from 78% in the corresponding period a year ago. Hyundai Motor has a target of increasing this to 90% in the next five years. 

Thursday, its shares closed 2.4% higher on the National Stock Exchange at INR 2,413.70.  End

Edited by Akul Nishant Akhoury

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