Hyundai reclaims 2nd spot in India’s automobile market in January – BusinessToday – Company Technique & Outlook

South Korea’s Hyundai Motor India emerged as India’s second-largest carmaker by quantity in January 2026 after 5 months, based on VAHAN information.

Hyundai clocked retail gross sales of 65,564 automobiles (excluding Telangana) in January, up 10% year-on-year, the VAHAN information present. Compared, Mahindra & Mahindra (M&M) bought 63,087 models final month, notching 22% year-over-year leap.

“January noticed an excellent momentum. We had been pleasantly shocked. VAHAN was superb at virtually 65,000-plus. We’ve got to see how issues progress going ahead,” Tarun Garg, the primary Indian managing director and CEO of Hyundai Motor India, mentioned in a media convention name after the corporate introduced its third-quarter earnings.

In January, retail gross sales of India’s greatest carmaker, Maruti Suzuki India Ltd, rose 2.3% year-on-year to 2,15,934 automobiles—greater than the mixed volumes of Hyundai, M&M and Tata Motors.

This sturdy January gross sales come because the Indian auto trade benefitted from supportive coverage measures introduced by the federal government. The GST reforms and rate of interest cuts considerably improved prospects’ shopping for sentiment, mentioned Garg.

Hyundai additionally recorded its highest-ever month-to-month home wholesales of 59,107 models in January, registering a 9.5% year-on-year development.

Whereas each section appears to be rising, information means that development is increased within the compact sport utility automobile (SUV) area in comparison with hatchbacks, Garg mentioned.

“After the GST price reduce, it is vitally clear that the development is in the direction of SUVs. From April 2025 to August 2025, the SUV contribution stood at 53.8%. From September 2025 to January 2026, it’s 56.5%,” Garg defined, including that this development is aided by extra fashions being launched within the SUV class.

Hyundai’s SUV contribution stood at 70% within the third quarter of FY26 whereas hatchbacks accounted for 17% share and sedans 13%.

The taxi market will assist Hyundai get extra volumes going forward, mentioned Garg. “The taxi market is over 300,000 automobiles yearly. We imagine there’s a nice alternative there,” he added.

On the comeback of city demand, Garg mentioned, “Till about six months again, it was solely rural which was driving the expansion for the trade. Nonetheless, now, whereas rural is driving, city has additionally began chipping in.”