Hyundai Venue has become a runaway success for the carmaker and has given required boost for the Korean OEM to minimize its overall sales loss in this downturn. Venue has not only proved to be a formidable competitor to Brezza; but now is in a verge of overtaking Brezza’s numbers! Venue was just 108 units short of the Segment-leader Brezza and 8,763 units of Venue were dispatched to Hyundai dealers in June’19. The model has already garnered over 35k bookings and is commanding a waiting period of almost 6 months in certain cities.
The Sub-4m Compact SUV segment has shown promise and has grown a staggering 38% YoY while the overall Car Sales have degrown by -17%! The success of the segment is owed to 2 Newcomers – Venue & XUV300. Both the new models have fared extremely well and has supported their parent OEMs. While Hyundai as an OEM degrew -7% in June’19; Mahindra Y0Y sales were up by 8%. This clearly showcases the importance of these new models in this troubling times for the industry. The influx of capable cars in the offering has shown a direct effect on the Market Leader Brezza – The model saw a YoY sales dip of -17% and the numbers have fallen below 9k units in June’19. Do note that Brezza’s monthly sales average last financial year was 13,156 units/month!