Festive Demand and Export Momentum Support Hyundai's Q2 Recovery Despite Weak Domestic Volumes
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About the Company
Hyundai Motor India (HMI) is the second-largest passenger vehicle manufacturer in India, known for popular models like Creta, Venue, and i20. Listed on Indian exchanges in Oct 2024 in India's largest IPO, HMI operates a 740,000-unit Chennai plant with a new Pune facility ramping up.
About This Chart
Q2 FY26 shows stable revenue of ₹17,400 Cr (+1.2% YoY) despite domestic headwinds. Export strength (+29.5%) and festive demand (+23% retails) offset a 6.7% decline in domestic revenue. SUV mix at record 71% continues premiumisation trend.
Key Insights
Demand & Growth Highlights
- Revenue grew 1.2% YoY, supported by 1.7% ASP uplift and export momentum
- Festive retails: Hatchbacks +16%, Sedans +47%, SUVs +21%
- Exter and Venue volumes up 28% — reinforcing compact SUV leadership
- First-time buyers at ~40% of sales (up from 32% in FY20)
What It Means
- Fundamentals remain resilient despite 7% domestic volume decline
- SUV leadership (71%) and rising rural penetration (23.6%) support demand
- Pune plant costs may moderate margins near-term
- New Venue launch key catalyst to absorb incremental overheads
"Our export momentum and strong festive demand helped offset domestic headwinds. SUV premiumisation and rural penetration continue to expand our addressable market."
— Hyundai Motor India, Q2 FY26📬 Get charts Updates
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