Hyundai Motor India Limited (HMIL) plans to launch 26 new models in the Indian passenger vehicle (PV) market by the end of FY2030 as it looks to boost sales amid stiff competition from domestic rivals Mahindra & Mahindra and Tata Motors. The lineup will include 20 internal combustion engine (ICE) vehicles and six electric vehicles (EVs), featuring a mix of all-new models, full-generation upgrades, and enhanced versions of existing cars.
Additionally, HMIL will introduce strong hybrid vehicles in India, with further details to be revealed at its Investor Day in September 2025.
“We remain steadfast in expanding a well-balanced portfolio across ICE and eco-friendly technologies, to cater to diverse customer needs across segments,” said Unsoo Kim, Managing Director at HMIL.
Kim added, “In addition to ongoing product interventions and updates, we are excited to announce that we will be launching 26 products. This will include a mix of new models, full model changes & product enhancements, by the end of financial year 2030. This will comprise 20 from ICE and 6 from EV segment. Additionally, we shall be introducing new ecofriendly powertrains like hybrids.”
Tarun Garg, chief operating officer (COO) of HMIL, informed that they will be rolling out eight new models over the next couple of years. He said that the prime focus for them will remain on sports utility vehicles (SUVs) where they continue to see a strong customer preference.
The Korean brand’s aggressive product push comes after rival carmakers Mahindra & Mahindra and Tata Motors dethroned the automaker from its long-held position as India's second-largest carmaker. In April 2025, Mahindra solidified its No. 2 spot in the Indian PV market with 52,330 domestic sales, surpassing Hyundai's 44,374 units.
On its outlook for FY26, Hyundai said that demand sentiment continues to be weak in the domestic market and the company would focus on exports growth to offset domestic market challenges. HMIL is targeting to achieve 7-8% growth in exports in FY26.
Hyundai has planned capital expenditure of Rs 7,000 crore during FY26. 40% of this would go towards the expansion of the manufacturing facility in Pune and 25% will be allocated to enhancing the product portfolio.
HMIL on Friday reported a 4% dip in its consolidated Profit After Tax (PAT) to Rs 1,614 crore for the fourth quarter that ended on March 31, on account of lower sales in the domestic market. The company sold 153,550 units in the reported quarter, a fall from 160,317 units sold in the same period of FY24. Total revenue from operations for the quarter (Q4FY25) rose marginally to Rs 17,940 crore.