All-new Hyundai Venue Should Give a 20% Uptake in Volumes: Tarun Garg

At the launch of the all-new Hyundai Venue, priced from ₹7.9 lakh,Tarun Garg, Chief Operating Officer of Hyundai Motor India, said the company expects a 20% increase in the volumes of Venue with the introduction of the compact SUV. The new Venue is crucial for the South Korean automaker to fend off competition from M&M, Tata Motors and Maruti Suzuki, as the launch comes at a time when the company has been losing market share.

“The current Venue is doing about 9,000 in the domestic market per month and about 600 in the export market. We expect that volume can go up to as much as 20%, which will really help us to improve our market share in this segment,” said Tarun Garg, Managing Director and Chief Executive Officer (CEO), Hyundai Motor India Ltd (HMIL). He added that the Pune plant, with a capacity of 170,000 units, is prepared to meet the expected demand. 

India-exclusive Production and Export Boost

The all-new Venue will be exclusively produced in India, which the company sees as a key opportunity to strengthen its role as a global manufacturing hub. “It presents us with a good opportunity to start with. We are looking to export it to about 30 countries, primarily in Latin America and the Middle East. Chile and Sri Lanka are two of the new countries where we are going to start exports. We are planning to increase our export contribution to 30%,” Garg said. He added that India is poised to become a very strong production hub for HMC, for the emerging markets and that the Venue will play a very important role in that plan.

Facing intensifying competition from players like Tata Nexon and Maruti Suzuki Brezza, Hyundai is betting big on the new Venue’s refreshed appeal. “This is a very important segment because it is the biggest segment in the industry. And we have sold more than 7 lakh Venues. It is in the top three models in the segment. This new generation Venue is actually raising the game to the next level,” he said.

Product Roadmap 

Hyundai is planning a strong future lineup to sustain growth momentum. “We have a very comprehensive plan and the idea is to grow at a CAGR of 7% thereby beating the industry CAGR of 5.5% and getting to a market share of 15% plus by FY30. So I think ₹45,000 crore investment will really help us to achieve all this,” Garg said.

The company’s roadmap includes six derivatives, seven facelifts or product enhancements, and seven new nameplates by 2030.

According to experts, Hyundai lacks a larger C-segment SUV above the Creta, which is limiting its ability to retain customers looking to upgrade within the brand. Garg said Hyundai is on track to address it. “The Indian market is still evolving, the car penetration is low. So the segments are evolving and we are looking at all those segments with a lot of interest. We are going to have seven new nameplates which will include entry into the off-roader segment, entry into the MPV segment and entry into some other segments as well. We are really looking at all the white spaces to address going forward,” he said.

In the first half of FY26, Creta achieved 51% of its FY2025 sales of 1,94,871 units, its highest fiscal year performance since launch in July 2015. Creta’s share of Hyundai’s SUV sales has risen to 52%, while the Venue, Hyundai’s second best-selling SUV, registered 49,978 units (down 12% YoY) and holds a 26% share of the company’s UV sales. Together, the Creta and Venue contribute 78% of Hyundai’s total sales, prompting questions around portfolio balance. 

“I don't think we have an over-dependence on Creta because if you see we are very very proud of Creta, it continues to do very well. The new Venue, already the outgoing Venue is in the top 3 in this segment. We also have a very strong presence by way of Exter, Aura and Nios. Beyond Creta, the next 5 models are also contributing almost 60% to our sales and they are all in the top 30-35 models in the industry. So I think Creta continues to do well but we are not very far behind in the other segments as well,” he said.

Garg added that the company expects recovery in the latter half of the year. “As far as overall demand scenario is concerned, with the GST 2.0 and the prices coming down, while the first half of this fiscal was kind of flattish Hyundai expects the long-term growth to be back at 5% for the rest of the year,” he said.