Hyundai expects 2.5 lakh mid-size SUV sales in 2027
New Delhi, Oct 26
Managing Director and Chief Executive Officer Hyundai Motor India Ltd Tarun Garg said on Monday that the company is expecting sales of at least 2.5 lakh units of mid-size sport utility vehicles in 2027.
He made the forecast considering the rapid growth of the segment for the past several years and the ability of Creta and the newly launched Bayon to attract diverse buyers.
Bayon's deliveries are expected to begin during the ongoing festival season, and Garg said the aforementioned target was a baseline rather than a ceiling.
Garg forecasted that the company will sell around 1.7 lakh units of the Creta in 2026. "The mid-SUV segment today is 16.5 per cent of the market already," he noted.
The mid-size SUV segment in India has grown at a compound annual growth rate (CAGR) of 25.6 per cent over the past five years and is projected to record 64 per cent volume growth between calendar years 2026 and 2032.
"While some of these laws have not come to India, but they have been there in the US and Korea, much, much stronger," he said.
"Creta created a market (of mid-SUV segment) when it was launched 10 years ago. We expect that the launch of Bayon will allow us to do for the next 10 years what Creta did then," he added.
He expects petrol to account for the largest share of demand in the Bayon's segment, and the model will feature a compressed natural gas (CNG) option in January 2027. The company has not considered a diesel version, as offering too many powertrain choices could complicate the product range and confuse buyers, he added.
Garg clarified that user data generated through the Bayon's artificial intelligence (AI)-powered voice assistant would remain with the company and not be shared with Perplexity, which runs the underlying language model.
— IANS
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