Hyundai reports double-digit sales growth in 2021; expects to sustain momentum in 2022

Hyundai Motor India expects robust sales to continue in 2022 as well with various positive factors, like improvement in the availability of semiconductors, aiding the business growth. The country's second-largest passenger vehicle maker reported double-digit growth in total wholesales last year as compared with 2020.

"We are entering 2022 with cautious optimism. There are more positives than negatives and we are looking to a better year with so much of the customer booking backlog. Besides, our product line-up is refreshed," Hyundai Motor India Director (Sales, Marketing and Service) Tarun Garg said.

He noted that sales of the CNG trims also continue to increase year-on-year.

"While there are challenges in terms of Omicron but at the same time, there are so many things to look forward to," Garg said.

Low interest rates, estimates of robust GDP growth and a good pace of vaccination are some of the positives, he stated.

The company's total dispatches rose 21.6 per cent in 2021 to 6,35,413 units as compared with 5,22,542 units in 2020.

The automaker reported sales of 5,05,033 units in the domestic market last year, up 19.2 per cent from 4,23,642 units in 2020.

Similarly, exports rose to 1,30,380 units last year as compared with 98,900 units in 2020.

In December, however, the automaker reported a drop of 26.6 per cent in the total wholesales at 48,933 units as against 66,750 units in December 2020.

Domestic dispatches dropped 31.8 per cent to 32,312 units as against 47,400 units in the same month last year.

Exports stood at 16,621 units as against 19,350 units in December 2020.

"The Indian market has been evolving rapidly, with discerning new-age customers making smart mobility choices that resonate with the company's sales growth last year," Garg said.

Despite key component supply constraints, the automaker has managed challenges to ensure smooth deliveries of models, he added.

Ramesh Babu V, director (operations) of NTPC and chairman of NPGC, had presented the cheque for the interim dividend to NTPC Chairman and Managing Director Gurdeep Singh on December 31.

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