India to Rise to Hyundai's Second Biggest Market by 2030

Hyundai Motor India, which has seen a growth slowdown recently, plans revv up its operations to outpace the overall market with a 7% compound annual growth rate (CAGR) through FY2030 as it expects the Indian market to becomes its second biggest in the world.

According to an investor presentation shared today, India will contribute nearly 15% to Hyundai Motor Company’s worldwide sales, similar to the current proportion, but allowing the country to becoming its second biggest market, next to its domestic market. 

To deliver on that promise, Hyundai is lining up a record 26 launches between FY2026 and FY2030 — a mix of seven brand-new models, six full model changes, six derivatives, and seven facelifts or refreshes.

This product offensive will expand the company’s portfolio from 14 to 18 nameplates, with a clear focus on SUVs, crossovers, and electrified vehicles. The blueprint builds on Hyundai’s existing strengths — the Creta, Venue, and Exter — even as new premium SUVs and EVs are set to join the range.

The launches will be paced strategically: four new models in FY26, eight in FY27–28, and fourteen in FY29–30, marking Hyundai’s most sustained product rollout in India to date.

EV and Hybrid Acceleration

Hyundai is also stepping up its electrification play. The company entered the mass market with the Creta EV in 2025. This will be followed by a compact EV and a stream of hybrid SUVs, supported by deeper localisation of battery packs, e-motors, and power electronics.

The EV ecosystem will be strengthened with new charging partnerships and supplier development initiatives, ensuring competitiveness as the Indian EV market gathers pace.

The company reiterated that India remains its largest manufacturing base outside South Korea, exporting to more than 100 countries. With expanded capacity at its Chennai and Talegaon plants, Hyundai is gearing up to meet rising domestic demand while boosting global exports from India.

Leadership Continuity and Market Challenge

The plans coincide with a major leadership transition. Tarun Garg, currently Executive Director, will take over as Managing Director & CEO from January 1, 2026, succeeding Unsoo Kim, who returns to South Korea for a global assignment.

Over the past few years, Garg has been central to Hyundai’s transformation — driving premiumisation, digital retail, rural penetration, and sales quality improvements. Under his watch, the Creta has remained India’s best-selling SUV, scaling new heights year after year despite intensifying competition from Tata Motors and Mahindra & Mahindra.