Hyundai India sees export recovery from Q2 FY27

Hyundai Motor India Ltd said it expects export volumes to recover from Q2 FY27, after shipments declined in Q1. The company cited healthier demand and order backlogs across its key overseas markets as factors that should support a near-term rebound.

In Q1, exports fell 19.6% year on year to 38,708 units, compared with 48,140 units a year earlier, the company said. It added that it expects export volumes to recover by September 30, 2026, while reiterating full-year overall growth guidance of 8–10%.

US-Iran conflict and supplier fire cited in Q1 decline Company officials said the Q1 drop reflected the US-Iran conflict, which they said weakened demand in the Middle East. They also pointed to a temporary production disruption in June after a fire at supplier Mobis's plant.

Hyundai Motor India said production has resumed after the supplier incident. The company also flagged ongoing logistics risks through the Strait of Hormuz, while adding that its partners are working on alternative routes.

New models and left-hand-drive variants widen market reach

Officials said new and updated models are supporting export momentum by expanding the company’s addressable markets. They highlighted shipments of the new Venue, Verna PE and Exter PE, including the left-hand-drive Exter introduced in the quarter.

According to officials, Venue is present in 29 markets and the company plans to expand that footprint to 35 markets. They said Exter left-hand-drive shipments are due to reach 13 markets by Q3, while Verna PE is expected to be in more than 25 markets by Q3.

Regional performance mixed as tariff challenges persist in Mexico Officials described differing demand patterns across regions in Q1. They said Central and South America recorded about 23% year-on-year growth during the quarter.

Mexico, however, continues to face tariff challenges, officials said. Despite that pressure, they added that the market is still supplying orders.

Guidance maintained amid unresolved shipping uncertainty

Hyundai Motor India reiterated its full-year overall growth guidance of 8–10% even as it noted continuing risks in key shipping lanes. The company’s recovery expectation rests on its stated view that demand and order backlogs remain healthy, alongside resumed production following the Mobis-related disruption.

The company said a market reaction to the update was pending. It did not provide additional figures for expected exports by region or model beyond the market-expansion targets stated by officials.