The Hyundai Creta has clocked a new milestone in India – the country’s bestselling midsize SUV has surpassed a million (10 lakh) sales this month. In the first 10 months of the current fiscal year, the Creta averaged sales of around 13,103 units per month, which translates into 436 units each day.
- Hyundai claims one Creta sold every 5 minutes
- Creta diesel sales account for 45 percent of total
- Over 2.8 lakh made-in-India Cretas exported
Hyundai’s popular SUV has taken 101 months or eight years and five months since its launch on July 21, 2015 to achieve the 10 lakh sales milestone. The Creta had clocked 5 lakh sales on August 11, 2020, five years after launch. The next half-a-million units have been sold in just 41 months or three years and five months, reflecting the sharp increase in the pace of demand.
The last 1 lakh units sold in a scant eight months, maintaining the same pace the Creta took to go from 8,00,000 to 9,00,000 (November 2022-June 2023: 1,06,092 units) and the run from 7,00,000 to 8,00,000 units, which took a few days over eight months. Based on the pace of sales, Hyundai claims it sold one Creta every five minutes.
In the April 2023-January 2024 period, Hyundai Motor India, with sales of 3,19,122 UVs, is currently ranked third in the UV sales ladder, after Maruti Suzuki India (5,22,626 units) and Mahindra & Mahindra (3,76,832 units). At 1,31,039 units sold in the first 10 months of FY2024, the Creta accounts for 41.54 percent of Hyundai’s total UV sales, followed by the Venue (1,10,348 units, 35 percent share). The Creta’s sales would have been higher, but for the new Creta being launched on January 16, 2024; average monthly sales, which crossed 14,000 units in the April-July 2023 period, came down to 9,243 units in December 2023.
In CY2023, with sales of 1,57,311 units, up 12 percent YoY (CY2022: 1,40,895 units), the Creta contributed 44 percent to the company’s estimated UV sales of 3,60,823 units last year. It continued to be the leading midsize SUV, albeit slipping one rank to No. 3 in the overall UV table, after the Maruti Brezza, which wrested the best-selling UV title from the Tata Nexon in CY2023.
The 2024 Creta facelift was launched on January 16, priced at Rs 11 lakh for the entry-level E petrol-manual variant, with introductory prices going up to Rs 20 lakh for the top-spec SX(O) diesel-automatic trim. With five engine and gearbox options, there are a total of 19 variants on offer. This pricing strategy places the new Creta bang in the middle of the midsize SUV segment, with rivals like the Maruti Grand Vitara and the Citroen C3 Aircross starting lower. While the top-spec petrol-automatic Creta is among the more expensive models, its diesel sibling is priced nearly at par with the Kia Seltos diesel.
Hyundai, which aims to grow its SUV contribution to 65 percent in its total volumes in CY2024 from 60 percent in CY2023, had, till early February, already received over 51,000 bookings for the new Creta. The brand has now announced that Creta bookings have crossed the 60,000 mark, just a month after its launch.
Hyundai’s diesel strategy pays off, helps protect turf
Hyundai’s strategy to remain bullish on diesels, compared to some rivals in India, is paying off. The Creta’s pack of powertrains comprises 1.5-litre petrol, 1.5-litre diesel and a 1.5-litre turbocharged petrol engine options. In terms of market pull, the new BS6-compliant diesel motor is keeping pace with the other two powerplants. It is understood that at present 45 percent of Creta sales in India continue to comprise diesel variants, particularly those equipped with automatic transmissions.
Hyundai is the longstanding No. 2 passenger vehicle manufacturer and currently the third-ranked utility vehicle player. The past couple of years have seen a fast-growing Tata Motors hard on Hyundai’s heels but thanks to sustained demand for the Creta, the Korean carmaker has kept the new challenger at bay.
The two rivals closed FY2023 with a difference of 23,155 units in favour of Hyundai. In the first 10 months of FY2024, Hyundai has registered wholesales of 5,11,522 units, compared to Tata Motors’ 4,71,272 units. The Creta, with sales of 1,31,039 units, has contributed 25.61 percent to Hyundai’s total PV sales in the fiscal year to date.
Creta: Big contributor to Hyundai India’s SUV growth story
With 3,19,122 UVs sold between April 2023-January 2024, Hyundai currently has a 15.48 percent share of India’s booming UV market. Of this, the Creta with 1,31,039 units alone has a 6.35 percent share, followed by the Venue compact SUV (1,10,348 units) which has a 5.35 percent share.
Between FY2016 till end-January 2024, Hyundai has sold a total of 16,60,263 UVs – of this, the Creta, with 993,783 units, has contributed a handsome 60 percent! Not surprisingly, the Creta has been a key driver of India’s SUV growth story.
Over 280,000 made-in-India Cretas exported
Adding power to the Creta story is the SUV’s export performance. A total of 2,82,542 Cretas have been exported till end-December 2023 (see data table above). Shipments of 3,555 Cretas in the first 10 months of FY2024 are down by 98 percent YoY (April 2022-January 2023: 21,756 units), but that could be a result of Hyundai rolling out more Cretas for the domestic market, given the substantial demand for the SUV here. Clearly, the focus is more on catering to domestic market demand compared to exports.
Hyundai Creta EV coming
Hyundai’s EV strategy for India also involves an all-electric Creta. It is learnt that development is underway on the zero-emission Creta, which is likely to be revealed at the Auto Expo 2025 and could see series production in the last quarter of 2024.
While the compact SUV market continues to be the biggest contributor to UV sales in India, there is a marked growth in the demand for midsize SUVs, particularly new models like the Maruti Grand Vitara, Fronx, the Toyota Urban Cruiser Hyryder and the facelifted Kia Seltos. Nevertheless, Hyundai is confident that the Creta will continue to be the segment leader despite the new competition.
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