The much awaited sub-4m Compact SUV offering from Hyundai – The Venue was launched with full pomp and show on 21st May. Touted to be the ‘Brezza-killer’; Venue was launched with an extremely aggressive price and exhaustive list of features. Hyundai seems to have planned well and matched the hype with an ambitious dispatch of 7,049 units to its dealer partners. The end customer demand is equally enthralling for Hyundai – It has already received near to 25,000 bookings till date and the figure is likely to double by Diwali! Hyundai has now put all its ammunition to topple the segment leader Vitara Brezza off its perch. The effect is already seen in May’19 – Brezza degrew a hefty -44% YoY (May’19 v/s May’18).
Snippets of the segment performance –
- The segment saw a double digit growth owing to 2 new models launched recently – Hyundai’s Venue & Mahindra’s XUV300. Undoubtedly this shall be one of the most happening segments in this fiscal year.
- Brezza volumes saw a steep fall and it registered its lowest number in past 23 months! The May’19 numbers for Brezza almost halved as the same month in 2018.
- Venue has stirred a lot of excitement in the market and is clearly visible in the booking stats and dispatch volumes. Venue’s success shall be crucial for Hyundai to gain significant market share and sustain its volumes in FY20.
- Mahindra XUV300 fares well and sells >5k units in May’19. It places itself into third position ahead of Nexon & Ecosport.
- WRV & TUV continue their downward trend and their volumes are decreasing with every passing month.