Sat, 24 Aug 2019

Hyundai India has announced a price hike from August 2019. The price hike across its product range will be upto a sum of Rs 9,200 depending on vehicle model. The price revision is attributed to increase in input costs as cars are now being revised to adhere to enhanced safety regulations in cars. A mandate set by the government. The new price increase is applicable to all its models.

In recent days, Hyundai has orchestrated two successful vehicle launches in two very different segments, for two very distinct reasons. The Kona electric to begin its electric journey in India as the country begins embracing the possibility of EVs being a first choice. And Hyundai Venue, the company's entry level SUV here. With this, Hyundai hopes to improve its share of SUV sales with the joint force of Venue and Creta.

Speaking about sales, during the past month, domestic sales dipped 7.3 percent with 42,007 units sold as compared to sales of 45,314 units sold in the same month of the previous year. Exports on the other hand increased 9 percent to 16,800 units while cumulative sales suffered a de-growth of 3.2 percent to 58,807 units over June 2018.

While talking about the model wise breakup, each of the cars in the company lineup suffered a de-growth. Sales of i20 Elite fell as much as 18 percent to 9,271 units in the past month as compared to sales of 11,262 units sold in June 2018. But in spite of the decline, i20 was the best selling Hyundai car for June 2019.

Hyundai Creta sales also registered a decline. It fell 25 percent to 8,334 units as against sales of 11,111 units in June 2018. Creta lost its spot to Venue, as the best selling Hyundai SUV in India. Venue sales stood at 8,763 units.

Hyundai i10 Grand sales dipped 33 percent to 6,907 units in June 2019 as against 10,343 units sold in June 2018. These low sales were despite the fact that the company was offering benefits and discounts upto Rs.1 lakh on the Grand i10 in a bid to clear out stocks prior to the launch of the all new model later this year.

The Hyundai Eon was discontinued as it failed to comply with new safety norms while the Santro managed to garner 4,141 unit sales. Sales of this entry level hatchback, reintroduced in October 2018 had got off to a good start, averaging over 6,700 units over the period of the first eight months. However sales have been falling in recent times with sales in May 2019 at 4,902 units which slumped to 4,141 units in the past month.

In the past month, Hyundai Xcent sales fell 48 percent to 2,172 units as compared to sales of 4,199 units in June 2018 while sales of Hyundai Creta, also saw de-growth, probably with the new Venue being added to the company lineup.

Sales of the Hyundai Verna, Elantra and Tucson also dipped during the past month. Verna sales fell 42 percent to 2,271 units while Elantra and Tucson reported de-growth of 56 percent and 57 percent to 60 and 63 units respectively.

The new Hyundai Kona noted sales of 25 units in the past month while the Kona EV has just been added to the company lineup at an introductory price of Rs.25.30 lakhs. The Kona EV is not only the company's first electric car in India but is also the first fully electric SUV to be launched in the country. The company claims that this new EV will have a per km cost of less than Re 1 as compared to a fossil fuel car in which the running cost could go up to Rs.6 per km.

The entire automobile industry is witnessing a major slump in sales. It has affected all segments and the reasons include high inventories, price hike with new safety regulations coming into effect from 1st April 2019 while upgrades to BS VI emission standards all of which have had an adverse effect on sales.

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