Meet the SUV driving Hyundai sales in 2024. Not Exter, Venue or Alcazar
Leading passenger vehicle (PV) manufacturer Hyundai Motor India has reported a growth of 4.65% year-on-year (y-o-y) in domestic volumes at 309,772 units in the first half of 2024 on the back of a handsome performance by its sport utility vehicles (SUVs), led by the popular Hyundai Creta.
The IPO-bound company sold 296,010 units in the domestic market in the year-ago period.
According to Hyundai, the SUV segment has contributed 66% to its domestic sales in H1 2024. The company offers SUVs like the Exter, Venue, Creta and Alcazar.
Hyundai Creta
Launched in January 2024, the new Hyundai Cretais the leading SUV with wholesales of 91,348 units in H1 2024, growing 11% y-o-y.
The Hyundai Creta range, including the N Line version, is priced between Rs 11 lakh and Rs 20.45 lakh (ex-showroom). It rivals the likes of the Maruti Suzuki Grand Vitara, Kia Seltos, Toyota Urban Cruiser Hyryder, Honda Elevate, Skoda Kushaq, Volkswagen Taigun and MG Astor.
The new Creta has three engine options -- 1.5-litre MPi petrol (115PS and 144Nm), 1.5-litre Kappa Turbo GDi petrol (160PS and 253Nm) and 1.5-litre U2 CRDi diesel (116PS and 250Nm). The MPi unit can be clubbed either with a 6-speed MT or an IVT automatic, the Turbo GDi unit with a 7-speed DCT automatic, and the CRDi unit with a 6-speed MT or a 6-speed AT.
Hyundai Creta N Line
The Creta N Line, which entered the market in March 2024, uses the 1.5-litre Kappa Turbo GDi petrol engine, (160PS and 253Nm) with 6-speed MT and 7-speed DCT options.
Hyundai filed draft papers with the capital markets regulator Sebi for an initial public offering (IPO), which could be the country's biggest ever, in June 2024.
According to the Draft Red Herring Prospectus (DRHP), Korean auto giant Hyundai Motor Company will dilute a 17.50% stake in its Indian arm. This will be done through an offer-for-sale, which will see the parent company selling 142,194,700 shares out of its 100% stake at 812,541,100 shares. There will not be any fresh issue of equity shares.
With the IPO, Hyundai is expected to raise around USD 3 billion (Rs 25,000 crore). The valuation is expected to be around USD 18 billion (Rs 1.50 lakh crore).
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