Key facts
- Chinese property developers are seeking debt relief.
- Evergrande and Country Garden are among the companies in talks with creditors.
- The property sector crisis poses risks to China's economic growth.
Hyundai Motor's cumulative vehicle sales in India are projected to surpass 10 million this year, marking a significant milestone nearly three decades after the South Korean automaker commenced local sales. As of the third quarter of this year, the company had sold 9.88 million vehicles in India, according to data from the Society of Indian Automobile Manufacturers (SIAM). Hyundai began its Indian operations in 1998 with the Santro minicar at its Chennai plant.
Industry data indicates that at the current sales pace, Hyundai is on track to exceed the 10 million cumulative sales mark by the end of 2026. Over the past three decades, Hyundai has expanded its model lineup in India to include vehicles such as the i10 and i20 hatchbacks, the Verna subcompact, the Creta SUV, the all-electric Creta EV, the Exter SUV, and the Alcazar SUV.