Hyundai targets 8-10% growth in second half, outpacing industry

Hyundai Motor is targeting 8-10 per cent sales growth in the second half of the year, positioning itself to grow faster than the overall passenger vehicle industry, according to company expectations. The automaker forecasts the broader market will expand at a more modest 5-6 per cent during the same period, creating an opportunity for the company to gain market share through strategic product launches.

The company's growth ambitions rest on two key new offerings. A mid-size SUV and a sub-four-metre electric vehicle are expected to strengthen Hyundai's portfolio and appeal to different customer segments across the Indian market. The sub-four-metre EV segment has emerged as a significant growth driver in India, offering affordability and tax benefits that attract price-conscious buyers interested in electric mobility.

Hyundai's strategy reflects intensifying competition in India's automotive sector, where established players are racing to capture growing demand in the SUV and electric vehicle categories. The company's focus on segment-specific products aligns with broader industry trends, as consumers increasingly gravitate toward compact utility vehicles and environmentally friendly options.

The passenger vehicle industry in India has shown resilience and growth momentum in recent months, though challenges remain around semiconductor supply chains and raw material costs. Hyundai's targeted growth rate, if achieved, would represent a significant performance relative to overall market expansion, underscoring the automaker's confidence in its product pipeline and market positioning.