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Hyundai Motor India, which slipped from second place in India’s passenger vehicle market in FY26, has now begun to focus on a new product-based strategy. After Tata Motors and Mahindra & Mahindra took a big lead in the domestic market, the company has announced the launch of two new and highly salable SUV models in FY27. The company’s MD and CEO Tarun Garg said during the Q4 earnings call that Hyundai will introduce two completely new nameplates this fiscal year. One will be a locally developed dedicated EV in the compact SUV segment, while the other will be a mid-size ICE SUV.

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The company is confident that these two new SUV models will give a big boost to sales. Hyundai’s sales in April 2026 were up 17 percent to 51,902 units. According to the company, compact SUVs and mid-size SUVs are the most in-demand segments in the Indian market and both these new models will achieve a growth of 8 to 10 percent in domestic sales in FY27.

According to media reports, Hyundai may bring the entry-level Hyundai Inster EV and the i20-based Hyundai Bayon to India this year. While the Inster EV may compete with the Tata Punch EV, the Bayon crossover is likely to compete with the Maruti Suzuki Fronx. In FY26, Hyundai sold 5,84,906 vehicles, which was 2.29 percent lower than in FY25. Mahindra & Mahindra, on the other hand, took the second position with 6,60,276 vehicles, while Tata Motors came third with 6,51,261 vehicles. As a result, Hyundai slipped to fourth place.

The company has planned a capex of around ₹7,500 crore for FY27. About 45 to 50 percent of this will be spent on new products. Also 30 percent investment will be used to increase production capacity. In this, the Chennai facility at Sriperumbudur will also be upgraded along with the Phase-2 expansion of the Pune plant. Hyundai’s Chennai plant has an annual capacity of around 8.24 lakh vehicles, and the new SUV models will be manufactured here. The company is confident of increasing its total production capacity to over 11 lakh units by 2030 including the Pune plant.

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Along with domestic sales, Hyundai is also focusing on export growth. The new SUV models will also be exported overseas, targeting an export growth of 8 to 10 percent in FY27. According to the company, India will serve as the global manufacturing hub for the new second-generation Hyundai Venue. Hyundai Verna and Hyundai Exter are also planned to increase exports to foreign markets.