现代汽车与起亚印度销量接近全年首破100万辆，但属于经营数据回顾，缺乏短线增量催化

Hyundai, Kia Near First 1 Million Sales Year in India - Seoul Economic Daily
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Hyundai Motor Group posted its highest-ever quarterly sales in India in the third quarter, the world's third-largest auto market. A sales strategy built around SUVs tailored to local tastes has driven the gains, and if the momentum holds, the group is on track to top 1 million annual sales in India for the first time this year.
Hyundai Motor (005380.KS) and Kia (000270.KS) sold a combined 308,331 vehicles in the third quarter, according to the Society of Indian Automobile Manufacturers (SIAM) and the carmakers' Indian units on the 5th. Hyundai Motor sold 219,072 units and Kia 89,259, up 14.8% and 38.5% from a year earlier, respectively. Both figures were quarterly records.
Hyundai Motor sold 77,916 vehicles in India in September, a 10.8% increase from a year earlier and its best monthly performance on record. The result surpassed the previous high of 75,360 units set in July, just two months earlier. Domestic sales of 57,166 units and exports of 20,750 units both rose by double digits from a year earlier.
Kia also set a monthly record in India last month, selling 32,017 vehicles, up 41% from September last year. Kia edged out Japan's Toyota Motor for a second straight month to rank among the top five by market share in India. In the first half of this year, market share in India's passenger vehicle market stood at 39.6% for Maruti Suzuki, 14.6% for Tata Motors, 13.8% for Mahindra, 11.8% for Hyundai Motor, 7.2% for Toyota Motor and 6.3% for Kia.
With both carmakers extending their sales run, analysts expect their combined volume to exceed 1 million units for the first time this year. Cumulative sales in India from January through September topped 829,000 units, closing in on last year's full-year total of 852,000. The two companies had already passed 250,000 combined units in the first quarter, a first for the group. The fourth quarter also brings Diwali, India's biggest holiday, which is expected to lift demand for new vehicles.
The expansion is attributed to a strategy centered on locally tailored sport utility vehicles (SUVs). The Creta, Hyundai Motor's flagship model for India, was the top seller in the country's midsize SUV segment last year and continues to drive results this year. Hyundai Motor plans to launch a new SUV, the Bayon, in India later this year. Positioned between the compact Venue and the Creta, the Bayon is intended to broaden the company's local SUV lineup. Kia's Seltos, launched in January, is currently selling more than 10,000 units a month on average.
India is the world's third-largest auto market after China and the United States. Annual new vehicle sales have risen steadily, from 5.18 million units in 2023 to 5.28 million in 2024 and about 5.7 million last year. India overtook Japan to become the third-largest market in 2022, but vehicle ownership remains below 100 per 1,000 people, pointing to substantial room for growth.
Hyundai Motor Group is also expanding production capacity to capture the Indian market. Combined annual capacity stands at 1.5 million units across Hyundai Motor's two plants in Chennai and its Pune plant, plus Kia's Anantapur plant. Hyundai Motor's Indian unit is reviewing plans to build a third plant to raise output, according to industry sources. Hyundai Motor plans to invest $5 billion in India through 2030 and introduce more than 26 new models.
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Original reporting by
Jung Hye-jin
for Seoul Economic Daily.
AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.
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