Delhi / Seoul
Tarun Garg Becomes Hyundai India’s First Indian MD & CEO — Steering ₹70,000+ Cr Auto Giant Toward Record Profits | to Accelerate EV and Profit Growth
1. Historic Leadership Milestone
-
First Indian at the Helm:
Tarun Garg becomes the first Indian MD & CEO of Hyundai Motor India Ltd (HMIL) in its 29-year history. -
Effective From:
Takes charge January 1, 2026, post shareholder approval. -
Succession:
Replaces Unsoo Kim, who returns to Hyundai HQ in South Korea for a strategic role.
2. Hyundai India — Financial Snapshot (FY24)
| Financial Metric | FY24 Value | Growth vs FY23 |
|---|---|---|
| Total Revenue | ₹70,000+ crore | ↑ 16% |
| Net Profit | ₹5,500 crore | ↑ 18% |
| EBITDA Margin | 13.2% (highest ever) | ↑ 1.5% |
| Market Share | 15.5% | 2nd in India |
| IPO Size (2024) | ₹25,000 crore | Largest in Indian auto history |
3. Tarun Garg — Proven Growth Leader
-
Sales Milestone:
Led HMIL to record sales for 3 consecutive years (2022–2024). -
Profitability Boost:
Achieved record-breaking profits and Hyundai’s highest-ever EBITDA margin in FY24. -
IPO Leadership:
Orchestrated India’s largest IPO in 2024 valued at ₹25,000 crore. -
Customer Excellence:
Achieved 90%+ NPS (Net Promoter Score) in sales & service through digital and process innovation.
4. Strategic Focus Areas as MD & CEO
-
Market & People Centricity:
Drive growth through customer satisfaction and employee empowerment. -
Future Strategy:
Push toward EV expansion, digital ecosystem, and sustainable operations. -
‘Make in India’ Strengthening:
Increase localization and export share from India. -
Digital Transformation:
Scale tools like MyHyundai app and HSMART dealer tech.
5. Professional Journey
-
Experience:
Over 32 years in the automotive industry. -
Previous Roles:
-
Maruti Suzuki: Executive Director (Marketing, Logistics, Parts & Accessories).
-
Hyundai Motor India: COO (2019–2025).
-
-
Education:
-
B.Tech (Mechanical Engineering): Delhi Technological University.
-
MBA: IIM Lucknow.
-
6. Leadership Endorsement
-
HMC CEO José Muñoz:
“Tarun’s appointment marks a defining moment in Hyundai India’s nearly three-decade journey.” -
Vision Recognition:
Praised Garg as a transformative leader with a progressive vision and deep market understanding.
7. Impact on Indian Auto Sector
-
Symbol of Localization:
Appointment reinforces India’s strategic importance in Hyundai’s global roadmap. -
Industry Benchmark:
Sets precedent for Indian leadership in multinational auto firms. -
Growth Catalyst:
Expected to push Hyundai’s EV and export ambitions, boosting GDP-linked auto output.
8. Future Outlook (2026–2030 Projection)
| Key Focus Area | FY26 Target | Long-Term Goal (2030) |
|---|---|---|
| Annual Sales | 7.5 lakh units | 10 lakh units |
| EV Line-up | 3 models | 8 models |
| Export Volume | ₹25,000 crore | ₹40,000 crore |
| Local Component Sourcing | 78% | 90% |
Disclaimer – The Profit India
This article is for informational and analytical purposes only. Financial figures are based on publicly available or industry-sourced data as of FY24. The Profit India does not provide investment advice. Readers are encouraged to conduct independent due diligence before making financial or investment decisions.
Read More
Hyundai’s $58B 2030 Vision: 5.55M Global Vehicles & 3.3M EVs, 8 Points
India Eyes $5B Record IPO Month in October 2025, 8 Points
Hyundai Cars | Up To ₹2.4 lakh Cheaper Now | 7 Points
₹50K Cr Bet: Car Makers Eye 7M Unit Capacity by 2029, 6 Points
