By Hyundai is making significant strides in the Indian automotive market with its highly successful entry-level SUV, the Exter. As bookings for this dynamic SUV have surged past the impressive milestone of 75,000 units, Hyundai is responding to the overwhelming demand by increasing its production capacity by a substantial 30 percent. The Exter, often compared to the Tata Punch, has gained immense popularity, with a significant preference for the higher-spec variants. This soaring demand has resulted in waiting periods that stretch up to a maximum of nine months, prompting Hyundai to take action to reduce the waiting times for eager customers.
To meet the soaring demand and address the burgeoning order backlog, Hyundai has boosted its production capacity from 6,000 units per month to an impressive 8,000 units. This production enhancement is a testament to Hyundai’s commitment to delivering their SUV to customers as quickly as possible. Furthermore, Hyundai is taking a strategic approach by redirecting some of its export volumes to meet the robust domestic demand. With waiting periods exceeding six months for most variants and hitting a peak of nine months for the most sought-after ones, this move aims to alleviate customer wait times and satisfy the domestic market’s growing appetite for the Exter.
While there were initial concerns about the Exter potentially cannibalizing sales of Hyundai’s Venue, the company reports that Venue sales remain strong, consistently exceeding 10,000 units per month. However, there has been a slight impact on the Grand i10 Nios hatchback, with a decrease of 1000-1500 units in sales. This is not surprising considering the evolving preferences in the market, where hatchbacks are facing declining demand. Overall, the Exter has contributed an additional 6000 units in sales for the company, marking it as a significant success story in Hyundai’s lineup. The launch of the Exter has expanded the entry-level SUV segment and catapulted it into the position of the second highest-selling entry-level SUV, trailing only behind the Tata Punch. This achievement has helped Hyundai regain a substantial 20 percent segment share in the highly competitive SUV market. With a commitment to meeting customer demand, Hyundai’s Exter is undoubtedly making its mark in the Indian automotive landscape.
