High-margin SUVs help Hyundai earn more per car than Maruti

The local unit of South Korea’s Hyundai Motor, which sold just about half the number of cars Maruti Suzuki dispatched in fiscal 2021, has been closing in on the market leader in revenue and profitability over the last five years. Hyundai Motor India’s revenue rose 5% annually between FY16 and FY21, faster than Maruti Suzuki’s growth of 3.38%.

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