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Informist, Friday, Sept. 4, 2026

 

NEW DELHI – Hyundai Motor India Ltd. Thursday said the company is seeing very strong demand for the electric variant of its sports utility vehicle Creta and expects the launch of a new born-electric sub-4-metre mass market car to boost its electric vehicle sales this year. Penetration of passenger electric vehicles has gone up to 7% from 2.5% in the last three months because of the war in West Asia, directly benefitting sales of its electric Creta, the company's Managing Director and Chief Executive Officer Tarun Garg told reporters. 

 

"We sold around 1,000 Creta EVs last month, up from 400-500 units per month sold before," Garg said. Depending on the variant, the waiting period for the model is 4-8 weeks currently. Supplies of Creta were impacted due to the fire at the Mobis plant in Tamil Nadu. However, supplies recovered in July, quicker than previously expected. 

 

"This year, the mid-SUV segment is growing. Even if Creta maintains sales, we may lose market share," Garg said. However, the company expects to make up for this shortfall through the launch of its mass market electric vehicle which will be launched a couple of months after the festival season.

 

"The less-than-4-metre segment is growing, the new launch will give us a presence in that segment," Garg said. Having seen sharp sales growth since the GST cut in late 2025, the industry growth may taper to 5-6% in the second half. Garg expects the two new nameplates to carry forward the growth momentum.

 

Hyundai Motor currently has a "healthy" inventory of 4-5 weeks ahead of the festival season. "Festive (season) has begun on a very positive note, Onam almost saw a retail growth of close to 100%," Garg said. In 2025, Onam was on Sept. 5, before the cut in GST became effective. 

 

POWERTRAIN

Hyundai Motor is currently seeing good demand for compressed natural gas-run cars in the entry-level segment and diesel cars in the mid-SUV segment. "Diesel demand is very strong for Creta. 40%  demand is for diesel Creta, 20-23% for diesel Venue," Garg said. The company would've produced more diesel cars if they had the capacity to do so, Garg said. 

 

Currently, 60% of the cars sold by Hyundai Motor are petrol-run, while diesel and CNG cars take up 20%  each. "Even (by) 2030...equal CNG, equal hybrid, equal EV," Garg said of the company's potential portfolio mix.

 

EXPORT STRENGTH

In August, Hyundai Motor sold 65,796 units in India and overseas, up almost 9% on year. Its despatches in India grew sharply on year but exports reported a drop because of unavailability of shipping vessels. "Last month there was definitely a shortage of ships, but we are expecting that very soon it should ease," Garg said.

 

"Cars are going flying off the shelf very fast which will free up some of the port spaces as well which moves ships can offload and then ships can come back," Garg said, adding that the company can leverage ecosystem offered by its parent Hyundai Motor Group.

 

The company currently exports around 24% of its overall production, up from 20% three years ago. The company expects this to be closer to 30% by 2030. The company is getting a good response from Latin America, South Africa, Peru, and Chile.

 

For the June quarter, Hyundai Motor had reported a consolidated net profit of INR 8.89 billion on revenues of INR 163.35 billion. At 1421 IST, shares of Hyundai Motor traded 2.4% higher at INR 2205 on the National Stock Exchange.    End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Anand JC and Pratyush Kumar

Edited by Akul Nishant Akhoury

 

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