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Informist, Monday, Feb. 2, 2026

By Anand JC and Pallavi Singhal

MUMBAI/NEW DELHI – Hyundai Motor india Ltd. Monday said its sales overseas grew 21% on year on the back of sustained demand momentum across key markets such as West Asia, Africa, and Latin America. "Going forward, we expect exports to contribute meaningfully in terms of volumes and profitability," Managing Director and Chief Executive Officer Tarun Garg told analysts in a post-earnings conference call.

"On the exports front, while global uncertainties continue to evolve, our focus remains clear: By leveraging opportunities from the new Venue and exploring new markets, we are confident of sustaining growth momentum in quarter four and beyond," Garg said. Exports contributed roughly 25% to Hyundai Motor's despatches in the December quarter. 

The company is seeing green shoots when it comes to demand for its sports utility vehicles sold from India overseas. Hyundai Motor will export its new Venue only from India. The company was exporting the older Venue to around 27 countries and is looking to increase it to 30 with the new Venue, with countries like Chile being in the fray as potential destination. 

However, given the robust demand for the new Venue in India, the company is looking to focus on reducing the waiting period here for no and slowly look at opportunities to expand export footprint for the model. "I think you will see that the mix shifting in favor of SUV is also going forward (in exports). We are looking at some of the opportunities in Alcazar as well," Garg said. 

So far, Hyundai Motor has been focused on exporting sedans such as Verna and Aura, and hatchbacks such as Grand i10 Nios. "I think now we are seeing green shoots in the SUVs, which we'd like to definitely leverage with the Venue and the extra especially, and of course, with the other models as well. And also the new models that we are going to come, of course, mostly will be SUVs," Garg said.

INDIA PERFORMANCE

In India, Garg said rural markets were a key driver of overall growth in despatches. "With sustained focus and targeted initiatives, we achieved our highest-ever quarterly rural contribution to domestic sales, exceeding 24%," Garg said.

Further, the company is seeing festival demand momentum carrying forward into the March quarter too, as Hyundai Motor sold a record high number of cars domestically in January. "We are well-positioned to drive stronger wholesales in the coming quarters, with optimum dealer inventory levels, driven by our disciplined approach and favorable GST tailwinds," Garg said. Retail sales in January were good too, as the company ended the first month of January with an inventory of less than four weeks, down from five weeks seen typically.

Contribution of sedans to its overall sales mix saw an uptick in the December quarter, primarily due to higher sales of Aura. "GST (cut) has a lot to do with it (demand for Aura). Plus, on Jan. 1 we launched the prime taxi range which is also helping Aura numbers," Garg said adding that the company expects demand for Aura to be high going forward.

Hyundai Motor in 2025 had said that compact sport utility vehicles would benefit the most from the GST cut, which likely played out, according to data shared by the company. Hatchback sales contributed 22.4% to the overall industry in Jan-Aug last year, which reduced to 21.4% in Sept-Dec, Garg said. "Very clearly, compact SUV Venue now coming in full force and more models, facelifts coming up, it seems that this will be a segment which will grow faster," Garg said.

COST IMPACT

Increase in input costs dragged the company's margin lower by roughly 40 basis points in the December quarter. The company is seeing continuous volatility in prices of some commodities such as precious metals in the March quarter.

The company announced a price hike earlier in January. "We will be continuously monitoring this commodity price trend. We will try to take all the cost optimisation efforts to mitigate this impact on the margins as much as possible," Garg said. As it continues to monitor price trends, the company said it will take "necessary actions" related to product pricing going forward. 

In the December quarter, the company's discounts moderated, it said. Hyundai Motor offered discount of 2.6% of average selling price of cars in the reporting quarter, down from 3.2% in the September quarter.

The company reported its December quarter earnings during market hours. It reported a consolidated net profit of INR 12.34 billion on revenues of INR 179.73 billion. Monday, its shares closed 1% higher on the National Stock Exchange at INR 2,197.90.   End

Edited by Akul Nishant Akhoury

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