Hyundai vs Maruti Suzuki FY24 Comparison: Key Insights for Indian Car Buyers [2024 Guide]

Table of Contents

1. Introduction
2. Overview of Hyundai and Maruti Suzuki in India
3. Key Metrics Comparison
   • Market Share
   • Sales Volume
   • SUV Sales
   • Exports
   • EBITDA per Vehicle
   • EBITDA Margin
   • Sales and Service Network
   • Production Capacity
   • Capacity Expansion Plans
4. Analysis and Conclusion
5. FAQs on Hyundai and Maruti Suzuki

• External Resources

1. Introduction

In the dynamic Indian automobile market, choosing the right car brand can be challenging. The FY24 performance of Hyundai and Maruti Suzuki, two industry giants, provides insights for buyers looking to make informed decisions. This detailed Hyundai vs Maruti Suzuki FY24 Comparison delves into critical metrics such as market share, SUV sales, and service networks, helping you understand which brand aligns with your needs in 2024.

2. Overview of Hyundai and Maruti Suzuki in India

Hyundai and Maruti Suzuki have established themselves as reliable choices for Indian consumers. While Maruti Suzuki holds the highest market share, known for affordability and accessibility, Hyundai appeals to a more premium segment, especially in the SUV category. This FY24 comparison highlights their differing strengths and market strategies, showing how each caters to India’s diverse consumer base.

3. Key Metrics Comparison

Let’s dive into a metric-by-metric analysis to understand how Hyundai and Maruti Suzuki stack up against each other:

Market Share

• Maruti Suzuki: 41.7%
• Hyundai: 14.6%

Maruti Suzuki dominates the Indian market with nearly triple the market share of Hyundai. This massive lead indicates Maruti’s stronghold in the affordable and mid-range car segments.

Sales Volume

• Maruti Suzuki: 20.4 lakh units
• Hyundai: 7.8 lakh units

Maruti Suzuki’s sales volume is a testament to its widespread appeal, especially in the compact and hatchback segments. Hyundai, though selling fewer units, is competitive within premium and SUV categories.

SUV Sales

• Hyundai: 63%
• Maruti Suzuki: 36%

SUVs are increasingly popular in India, and Hyundai’s 63% sales from SUVs highlight its stronghold in this lucrative segment. Maruti Suzuki, known for compact cars, is growing its SUV share but lags behind Hyundai in this category.

Exports

• Hyundai: 21%
• Maruti Suzuki: 14%

Hyundai’s focus on exports has helped it establish a global footprint, with 21% of its sales attributed to international markets. Maruti Suzuki also exports vehicles, but it primarily focuses on domestic customers.

EBITDA per Vehicle

• Hyundai: ₹1.2 lakh
• Maruti Suzuki: ₹77,000

Hyundai’s higher EBITDA per vehicle (₹1.2 lakh) reflects its focus on premium and high-margin vehicles. Maruti Suzuki’s EBITDA per vehicle is lower due to its budget-friendly offerings but remains profitable in high volumes.

EBITDA Margin

• Hyundai: 13.1%
• Maruti Suzuki: 11.6%

Hyundai’s EBITDA margin is marginally higher, suggesting stronger operational efficiency. Maruti Suzuki’s 11.6% margin is commendable, especially considering the affordability of its models.

Sales and Service Network

• Maruti Suzuki: 8,440 points
• Hyundai: 2,900 points

Maruti Suzuki’s extensive network of over 8,440 sales and service centers ensures accessibility across India. Hyundai, with 2,900 points, covers urban and semi-urban areas, focusing on high-value service points.

Production Capacity

• Maruti Suzuki: 23.5 lakh units
• Hyundai: 8.24 lakh units

Maruti Suzuki’s significant production capacity enables it to meet high demand across segments, from entry-level to SUVs. Hyundai’s capacity, though smaller, supports its premium and mid-sized SUV focus.

Capacity Expansion Plans

• Maruti Suzuki: 20 lakh additional units
• Hyundai: 2.5 lakh additional units

Maruti Suzuki’s aggressive expansion aligns with its market dominance strategy, aiming for high future demand. Hyundai’s smaller expansion reflects its selective growth, catering to premium and niche markets.

4. Analysis and Conclusion

In the Hyundai vs Maruti Suzuki FY24 Comparison, Maruti Suzuki emerges as the market leader in terms of volume, market share, and network reach. Hyundai, however, shines in the SUV segment and profitability metrics, appealing to premium car buyers. For Indian consumers, Maruti Suzuki offers accessibility and value, while Hyundai provides premium SUVs and export options.

In Summary:

• Best for Budget Buyers: Maruti Suzuki
• Best for Premium Buyers: Hyundai
• Best in SUV Segment: Hyundai
• Best in After-Sales Network: Maruti Suzuki

For a deeper understanding of Indian automobile choices, buyers may want to consider the FY24 performance data to make an informed decision based on their unique preferences.

5. FAQs on Hyundai and Maruti Suzuki

Q1. Which brand has a higher market share in FY24, Hyundai or Maruti Suzuki?
A: Maruti Suzuki, with a 41.7% market share, leads the Indian automobile market in FY24.

Q2. Who sells more SUVs, Hyundai or Maruti Suzuki?
A: Hyundai, with 63% of its sales coming from SUVs, leads Maruti Suzuki in this segment.

Q3. What is the primary difference between Hyundai and Maruti Suzuki’s focus?
A: Hyundai focuses on premium and SUV segments, while Maruti Suzuki targets the budget-friendly, high-volume market.

Q4. Is Hyundai or Maruti Suzuki more profitable per vehicle?
A: Hyundai, with an EBITDA per vehicle of ₹1.2 lakh, earns more profit per vehicle than Maruti Suzuki.

Here’s the data from the comparison between Hyundai and Maruti Suzuki in a tabular format:

This table provides a clear, side-by-side comparison of the FY24 performance metrics for Hyundai and Maruti Suzuki in the Indian market.

6. External Resources

To understand more about the Indian automobile market and trends in 2024, you can refer to:

• Society of Indian Automobile Manufacturers (SIAM) – SIAM provides data and insights on market trends and statistics for automobile brands in India.
• Hyundai India Official Website – Explore Hyundai’s latest models, technology, and updates.
• Maruti Suzuki Official Website – Check out Maruti Suzuki’s offerings, service points, and new vehicle launches.