Hyundai’s Motor India Limited (HMIL) achieved a significant milestone in 2024 by selling a record 1.58 lakh pre-owned cars through its Hyundai Promise program. This marked a 5.8% increase in sales compared to the previous year, setting a new benchmark in the company’s used-car business. The Hyundai Promise initiative has played a crucial role in building consumer confidence in certified pre-owned vehicles, ensuring quality, reliability, and transparency.
Hyundai Promise: Redefining Trust in Pre-Owned Vehicles
Hyundai Promise is the brand’s certified pre-owned car program, designed to offer customers a seamless and worry-free buying experience. The program ensures that every used Hyundai car undergoes a comprehensive quality check before being resold. In 2024 alone, the program facilitated the sale of 35,553 certified pre-owned vehicles, accounting for 23% of the total pre-owned sales. This represents an 8% growth in the certified car segment compared to the previous year.
With Hyundai Promise, customers receive a certified vehicle that has undergone a stringent 161-point quality check, ensuring it meets the brand’s high standards. This meticulous process guarantees that buyers receive cars that are reliable, well-maintained, and in optimal condition. Additionally, Hyundai provides a warranty on these certified cars, making them an attractive choice for customers looking for quality and affordability.
Top Performers: Creta, i20, and Grand i10 Dominate Sales
Hyundai’s best-selling pre-owned models in 2024 were the Creta, i20, and Grand i10. These three models collectively accounted for 55% of Hyundai’s certified pre-owned car sales. The popularity of these models reflects their strong demand in both the new and used car markets.
The SUV category contributed 21% of the certified pre-owned car sales, with the Hyundai Creta leading the segment at 13%, followed by the Hyundai Venue at 8%. The strong performance of Hyundai’s SUVs in the pre-owned segment aligns with the overall market trend, where consumers increasingly prefer SUVs over other body types due to their versatility, spaciousness, and higher ground clearance.
Why Hyundai Promise is Gaining Popularity?
Several factors have contributed to the rising popularity of Hyundai Promise and the overall increase in pre-owned Hyundai car sales:
- Rigorous Quality Checks: Every certified pre-owned Hyundai vehicle undergoes a 161-point inspection to ensure it meets stringent quality and safety standards.
- Warranty and Assurance: Hyundai provides a warranty on certified pre-owned vehicles, enhancing consumer confidence. Cars under seven years old come with a one-year comprehensive warranty, while vehicles between seven to ten years old receive a six-month warranty on the engine and transmission.
- Roadside Assistance and Free Services: Customers benefit from roadside assistance and up to two free services, further strengthening Hyundai’s commitment to after-sales support.
- Digital Integration: Hyundai has embraced digital transformation by launching an online platform for Hyundai Promise. The ‘Click-to-Buy’ digital platform enables customers to browse available certified pre-owned cars, request test drives, and complete the purchase process online. Sellers can also get their vehicles evaluated and upload necessary documents, making the entire process hassle-free.
- Rising Demand for Certified Pre-Owned Cars: With the rising costs of new cars, more consumers are turning to certified pre-owned vehicles as a cost-effective alternative. Hyundai Promise provides the assurance of a well-maintained car backed by the manufacturer, making it an appealing choice.
Changing Trends in the Pre-Owned Car Market
The used car market in India has been evolving rapidly, with an increasing number of consumers opting for certified pre-owned vehicles instead of purchasing new cars. The demand for quality-assured pre-owned vehicles has surged as buyers seek greater transparency and reliability in the used car segment. Hyundai Promise’s record-breaking sales in 2024 highlight this shift in consumer behavior.
Market experts suggest that the growth of organized players in the used-car industry, like Hyundai Promise, has significantly contributed to improving trust in pre-owned car transactions. Traditionally, the Indian used-car market was dominated by unorganized dealers, leading to concerns about vehicle history, condition, and pricing. However, Hyundai’s entry into this space has helped streamline the industry, setting new standards in customer service and quality assurance.
Future Outlook: What Lies Ahead for Hyundai Promise?
Hyundai’s strong performance in the pre-owned car segment indicates a promising future. With increasing consumer confidence in certified used cars, Hyundai Promise is expected to continue its upward trajectory. The company is likely to expand its network, introduce more digital solutions, and enhance customer benefits to stay ahead in the competitive used-car market.
Experts predict that the demand for SUVs in the pre-owned segment will continue to rise, with models like the Creta and Venue remaining top choices. Additionally, the hatchback segment, led by the Grand i10 and i20, will likely maintain steady demand due to its affordability and fuel efficiency.
Hyundai’s commitment to innovation, customer satisfaction, and quality assurance ensures that Hyundai Promise remains a preferred choice for used-car buyers. With the company’s continuous efforts to enhance its offerings and digital capabilities, Hyundai Promise is set to further strengthen its position in India’s booming used-car market.
Conclusion
Hyundai’s remarkable growth in the pre-owned car segment in 2024 is a testament to its commitment to quality, customer satisfaction, and innovation. With record-breaking sales of 1.58 lakh pre-owned cars, Hyundai Promise has established itself as a trusted platform for used-car buyers. The dominance of models like the Creta, i20, and Grand i10 underscores their popularity and strong resale value.
As the Indian used-car market continues to evolve, Hyundai Promise is well-positioned to play a pivotal role in shaping the future of pre-owned car sales. With a focus on digital transformation, enhanced customer experience, and stringent quality checks, Hyundai is set to maintain its leadership in the certified pre-owned vehicle space in the years to come.
Congress in Kerala Criticizes Shashi Tharoor for Praising Left Government
Leave a comment