India’s second largest passenger vehicle maker and the newly listed Hyundai Motor India clocked 15.5% drop in Q2FY25 profit. The Profit after Tax for the second quarter came in at Rs 1375.47 crore Vs Rs 1628.46 cr in QFY24. The revenue from operation too declined 7.50% YoY to Rs 17260.4 crore from Rs 18659.69 crore in the corresponding quarter of the previous year. The drop in the profitability in primarily on the back of sluggish sales.
Q2 sales lower
The Korean carmaker that recently made a debut on the Indian bourses, sold a total of 191,939 units of passenger vehicles during this quarter. This includes 1,49,639 units in the domestic market with a strong contribution from SUV segment. The export volume stood at 42,300 units. Even on a quarter-on-quarter comparison, this is lower than the total sales of 192,055 units in Q1.
Domestic Sedan, hatchback volumes take a hit in H1
Overall for the entire first half of this financial year, Hyundai has consistently recorded lower sales both in domestic and export markets. SUVs, that account for the biggest chunk of passenger vehicle sales for Hyundai, however, continued to account for the largest share of vehicle sales in India. Hyundai sold 203,381 SUVs in H1FY25 compared to 186,820 SUVs in H1FY24. But hatchback sales declined in H1FY25 to 60,744 units from 72,517 units in H1FY24. Sedans saw the maximum hit in volumes with H1FY25 accounting for mere 34,969 units compared to sales of 47,738 in the same period last fiscal.
| Hyundai Product mix | FY25 | FY24 |
| SUVs | 203,381 units | 186,820 units |
| Hatchback | 60,744 units | 72,517 units |
| Sedans | 34,969 units | 47,738 units |
Creta EV set to be a game changer
Speaking on the company’s performance the management expects that over the mid to long term, sustained demand momentum will be seen in the industry and they will continue to focus on quality of growth by maintaining an optimum
balance between volume, market share and margins. Unsoo Kim, Managing Director said, “Despite the sluggish market conditions, we have successfully maintained profitability in H1 FY25, largely due to our proactive and continuous cost control measures. Further, we will be launching the Creta EV for mass market in the coming months and we expect it will be a game changer in the EV market.”
