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India Overtakes South Korea to Become Hyundai's Second-Largest Global Market
M
Moneycontrol•14-10-2026, 17:45
India Overtakes South Korea to Become Hyundai's Second-Largest Global Market
- •India surpassed South Korea as Hyundai's second-largest global market for the first time, driven by strong growth in India and declining sales in its home market.
- •Hyundai sold nearly 306,000 passenger vehicles in India between January and June 2026, marking a 7% year-on-year increase.
- •North America remains Hyundai's largest market globally, with sales exceeding 580,000 units in the first half of 2026.
- •Hyundai is investing Rs 4,000 crore to expand capacity at its Pune plant in Maharashtra to 320,000 units annually, bringing total Indian capacity to over 1.1 million units.
- •The automaker plans to launch 26 models in India, expand its electric vehicle lineup to four models by 2029, and increase component localization to 92% at the Pune facility.
Key Questions Answered
Between January and June 2026, Hyundai sold nearly 306,000 passenger vehicles in India, representing a 7% year-on-year increase and allowing India to overtake South Korea as the company's second-largest global market.
Hyundai is investing Rs 4,000 crore to expand capacity at its newly inaugurated manufacturing plant in Pune, Maharashtra, taking the facility's target to 320,000 units annually.
Hyundai plans to launch 26 models in India to fully utilize its expanded manufacturing capacity, which includes growing its electric vehicle portfolio to four models by 2029.
