Hyundai Motor India bets on CNG vehicles, sees accelerated demand
South Korean automaker Hyundai sells many great vehicles in the Indian market. The company sells a large number of vehicles every month. But in the seven months of the current financial year, the company has achieved a new milestone. In which segment did the company sell the most during April to October 2024. Let's know.
Hyundai, the South Korean automaker is currently selling vehicles in many segments in the Indian market. Along with it, the company also offers vehicles with petrol, diesel, electric, and CNG technology. Know which technology vehicles the company sells the most between April and October 2024.
Hyundai Motor India Limited is raising bets on the CNG fuel option, because demand for sales of models equipped with this technology is increasing in the rural and urban markets of the country, according to the information given by a top company official.
Hyundai offers options for CNG in three models: Grand i10 Nios, Aura, and Exeter. Currently, CNG penetration in Grandi10 NIOS is 17.4%, while it is 39.7% for EXTER and 90.6% for AURA (as of October 2024). The contribution of CNG models in domestic sales increased to 11.4% in FY 2024 from 9.1% in FY 2022. Penetration of CNG models grew from 8.8% in FY22 to 10.7% in FY24 in Urban markets, and from 7.1% in FY22 to 12.0% in FY24 in rural markets. Penetration of CNG models stands at 12.3 % in Urban markets and 14.6% in Rural markets (as on October 2024).
The contribution of CNG models in the company's domestic sales has increased to 12.8 percent so far in the April-October period of this financial year (FY25). Its total vehicle sales in various fuel options in the domestic market during this period stood at 3.54 lakh units. The key highlights of the Hy-CNG Duo models are Ample boot space and Tyre mobility kit (TMK). In addition to this, enhanced peace of mind with company-fitted reliable CNG & 3 years warranty and Integrated ECU for faster & seamless shifting between Petrol and CNG
Elaborating on why the company was bullish on CNG models, Hyundai Motors India Director and Chief Operating Officer Tarun Garg said, "We continuously listen to our customers' feedback and are cognisant of their aspirations. The introduction of Hy-CNG Duo is aimed to meet customer demands of providing ample space with high mileage and safety. This has helped us achieve highest ever CNG penetration of 14.9% in October 2024. Company-fitted CNG system with 3 years warranty assures maximum assurance for customers. At present, India already has more than 7,000 CNG stations and aim is to have approximately 17,500 CNG stations by 2030 which will further fuel the CNG demand."
