Hyundai Motor India expects to log in a high double-digit sales growth this year as compared with 2020 and remains hopeful of repeating the performance next year as well riding on the back of strong demand for personal mobility, a senior company official said on Monday.
The company, which on Monday introduced a new brand campaign that encapsulates its commitment and aspirations in the country, is counting various positive factors like rapid pace of COVID-19 vaccination and improvement in the economy to achieve its business goals.
It, however, remains wary of resurgence of COVID cases in Europe and high fuel costs, which it believes can offset its business outcomes going ahead.
“When you compare with last year obviously the numbers look much more positive. A high double-digit growth is around the corner. The shift towards personal mobility has really helped,” Hyundai Motor India Ltd (HMIL) Director (Sales, Marketing, Service) Tarun Garg told PTI in an interaction.
The demand is very strong and the company is sitting on a customer booking backlog of close to 95,000 units as most of the models are witnessing traction, he added.
“Whether it is pace of vaccination or the general upliftment of the economy, all of this has helped to enhance the demand for our models,” Garg noted.
He hoped that the situation would remain positive in the future as well.
“We feel that going ahead demand should be consistent and good. Of course, the issue of chip shortage remains. Our procurement teams are making big efforts and hopefully we should be able to tide over the situation soon and then we would be able to supply as per the customer demand,” Garg stated.
The challenging aspects remain the high fuel costs, and resurgence of COVID-19 in Europe, he added.
“We hope that it does not (new COVID strains) come to India. If we are able to sustain this low COVID rate for the next month or so, hopefully things would look much brighter. We are looking to end the current year with a high double-digit growth over last year,” Garg noted.
Hyundai sold 5,50,002 units in 2018; 5,10,260 units in 2019 and 4,23,642 units last year in the domestic market..
When asked about sales expectations in 2022, he said: “As of now positives are probably outnumbering the negatives and that is why we are witnessing such a robust demand. A lot of demand next year would hinge upon the COVID situation. In case the COVID situation is fine, we have every reason to believe demand is going to be very strong.”
The automaker, which sells models like Creta and Venue, follows a January-December financial year.
Drawing inspiration from Hyundai’s global vision of ‘Progress for Humanity’, the company has launched a ‘Beyond Mobility’ campaign in the country.
“The company has embarked on a journey to further strengthen its brand image as technologically advanced, sustainable and innovative. As a customer centric organisation, we aim to elevate customer interactions with our brand, not just in the realms of mobility but create experiences that are beyond what is conventional,” Hyundai Motor India MD & CEO SS Kim noted.
The automaker is redefining its services and experiences that create memories and surpass expectations of customer thereby delivering quality time, he added.