Hyundai Motor slips after total sales slumps 7% YoY in Nov '24

Hyundai Motor India (HMIL) declined 1.36% to Rs 1,889.50 after the company's total sales dropped 6.9% to 61,252 units in November 2024 as compared with 65,801 units in November 2023.

While domestic sales fell 2.4% to 48,246 units, total exports tumbled 20.5% to 13,006 units in November 2024 over November 2023.

Overall SUV contribution to domestic sales continues to stay strong at 68.8% in November 2024. CNG contribution was 14.4% in November 2024, backed by innovative Hy-CNG Duo technology.

Tarun Garg, whole-time director and chief operating officer, HMIL said, HMILs push towards fortifying SUV supremacy continued in November with SUVs contributing 68.8% of our total Domestic sales. We also bolstered HMILs presence in the hinterland of India, by achieving highest ever monthly rural contribution of 22.1% in November. Our innovative Hy-CNG technology continues to strengthen HMILs CNG sales, with a 14.4% contribution in November 2024.

Hyundai Motor India is a part of the Hyundai Motor Group, which is the third largest auto original equipment manufacturer (OEM) in the world based on passenger vehicle sales in CY23. Manufactures and sells reliable, feature-rich, and innovative four-wheeler passenger vehicles backed by the latest technology. Additionally, parts such as transmissions and engines are also manufactured.

The car manufacturers consolidated net profit decreased 15.54% to Rs 1,375.47 crore on 7.5% slide in revenue from operations to Rs 17,260.38 crore in Q2 FY25 over Q2 FY24.

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