Tarun Garg, COO at Hyundai Motor India, breaks down the key trends shaping the auto industry. He explains how the typical industry cycle works, noting a 2% dip between April and August but projecting a strong 5% recovery from September onwards.
With GST cuts arriving at just the right time, compact SUVs like the Venue and Exter are set to gain the biggest boost, striking the perfect balance between aspiration and affordability. Garg highlights that most upcoming launches will be in the compact SUV space, which already accounts for 28% of the market, driven by a clear shift from hatchbacks to SUVs.
On the EV front, he points out that penetration touched 6% in August, with the PM eDrive scheme and charging infrastructure emerging as key enablers. Hyundai itself aims to set up 600 chargers by 2032, reflecting its strong commitment to electrification. Emphasizing that EVs are here to stay and grow, Garg also stresses the importance of stronger regulations and the government’s responsiveness to OEMs in shaping the industry’s future.
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