acknowledged that a slower pace of product refreshes and launches compared to competitors led to a drop in its domestic sales and market share during FY26, slipping to fourth place in the Indian market after 16 years as the second-largest carmaker. Domestic Decline vs. Export Growth: While domestic sales declined by 2% to 584,906 units in FY26, the company’s export volumes provided a silver lining by growing 16.4% to 190,125 units. Homegrown Rivals Gain Ground: Indian automakers Mahindra & Mahindra and Tata Motors capitalised on Hyundai's slowdown, achieving strong sales growth of 20% and 15% respectively, primarily due to aggressive product expansion in the SUV segment. Ambitious 2030 Product Roadmap: To reclaim market share, Hyundai Motor India plans to launch 26 new models by 2030, which includes new nameplates, facelifts, upgrades, 8 hybrid models, 5 battery electric vehicles, and introducing its Genesis luxury brand to India. Near-Term Rollout & Capacity Expansion: For FY27, the company is introducing two new nameplates (including an EV) alongside the next-generation Creta, supported by its new Talegaon manufacturing plant, which will increase overall capacity beyond 1 million units annually. Analyst & Leadership Outlook: Appointing Tarun Garg as its first Indian CEO to better align with local market demand, analysts expect Hyundai's market share to bottom out in FY27 before rebounding in FY28 as new models and expanded production come online.

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