Hyundai's domestic sales grow just 1% in September
Hyundai India's domestic sales grew just 1% in September, reaching 51,547 cars sold.
Still, that wasn't enough to keep investors happy—shares dropped 3% to ₹2,507 on Wednesday.
This happened even after the government cut GST to boost demand.
On the bright side, Hyundai's exports soared by 43.5%, with nearly 19,000 vehicles shipped abroad.
SUVs dominate Hyundai's sales at home
Most of Hyundai's sales at home are SUVs—making up a record 72.4% last month—with the Venue having its best run in almost two years.
But only about 30% of this year's revenue comes from compact cars that actually benefit from lower GST; the rest is tied up in exports and bigger SUVs that aren't affected by the tax change.
Analysts expect just modest growth (around 3%) for Hyundai between FY26 and FY28.
Stock still considered pricey compared to rivals
Even with shares jumping nearly 50% over six months, Hyundai reported an 8% drop in Q1 profit (₹1,369 crore) and a dip in revenue too.
The stock is still considered pricey compared to rivals like Maruti Suzuki.
For now, Hyundai will need fresh models and strong market presence to keep pace as buyer trends shift.