Tarun Garg Named First Indian MD & CEO At Hyundai Motor India

Tarun Garg becomes Hyundai Motor India’s first Indian MD & CEO, taking charge from Jan 1 2026.

Hyundai Motor India Limited has made history by naming Tarun Garg as its first Indian Managing Director and CEO. The appointment was announced on October 14, 2025, marking a major milestone for the company that started operations in India nearly three decades ago. Garg will officially take charge on January 1, 2026.​

The decision comes as Unsoo Kim, the current MD, prepares to return to South Korea for a strategic role at Hyundai Motor Company. Kim will step down at the end of business hours on December 31, 2025. Until then, Garg will serve as MD and CEO designate.​

This leadership change represents a historic moment for Hyundai Motor India. Since the company entered the Indian market in 1996, it has never been led by an Indian national. Garg's elevation signals the company's confidence in local talent and India's growing importance in Hyundai's global strategy.​

Garg has been with Hyundai Motor India since December 2019. He joined as Director of Sales, Marketing and Service before moving up to Chief Operating Officer in January 2023. Over these years, he worked closely with the global management team and was specifically identified for this top position by Hyundai Motor Company headquarters in South Korea.​

Under his leadership as COO, the company achieved remarkable results. Hyundai Motor India posted its highest domestic sales for three consecutive years from 2022 to 2024. The automaker sold 552,511 units in 2022, followed by 602,111 units in 2023, and reached 605,433 units in 2024. This consistent growth came despite challenging market conditions across the industry.​

Financial performance also reached new heights during Garg's tenure. The company delivered record profitability with FY24 representing its strongest EBITDA margin at 13.08 per cent. This margin was among the highest in the Indian automobile industry. The achievement reflected improved pricing strategies, better product mix and operational efficiency.​

One of the most significant accomplishments was the successful execution of Hyundai Motor India's Initial Public Offering in 2024. The IPO raised $3.3 billion, making it the largest ever in Indian stock market history. The offering was oversubscribed more than two-fold, led mainly by institutional investors.​

Garg also drove several digital initiatives that transformed customer experience. The MyHyundai app for consumers and HSMART platform for dealer networks were rolled out under his watch. These digital tools helped achieve over 90 per cent Net Promoter Score across sales and service operations. The MyHyundai app now has more than 2.6 million total users with around 400,000 monthly active users.​

Before joining Hyundai, Garg spent more than 25 years at Maruti Suzuki India Limited. He started as a management trainee in 1994 and progressed through various roles in logistics, sales planning and regional management. His last position at Maruti Suzuki was Executive Director of Marketing, Logistics, Parts and Accessories, which he held from July 2017 to December 2019.​

During his time at Maruti Suzuki, Garg gained deep expertise across multiple functions. He served as National Sales Head for six years from 2010 to 2016 and also led the premium Nexa channel as Executive Vice President from June 2016 to July 2017. This diverse experience gave him a comprehensive understanding of the Indian automotive market.​

Garg holds a Bachelor of Technology degree in Mechanical Engineering from Delhi Technological University, formerly known as Delhi College of Engineering. He completed the degree between 1988 and 1992. He followed this with a Master of Business Administration in Marketing from the Indian Institute of Management, Lucknow, which he finished in 1994.​

His professional strengths include deep insight into market and industry dynamics. He has demonstrated the ability to interpret trends, third-party insights and future forecasts to develop practical strategies. At Hyundai, he introduced Advanced Driver Assistance Systems across nine models while also improving sales quality and expanding profit margins.​

José Muñoz, President and CEO of Hyundai Motor Company, praised Garg's appointment in a statement. "Tarun's appointment as the first Indian national to lead HMIL is a defining moment in our nearly three-decade history," Muñoz said. He highlighted that Garg is a transformative leader who brings a progressive vision combined with deep understanding of the Indian market.​

Muñoz, who took over as Hyundai Motor Company's global CEO on January 1, 2025, has oversight of all major regions including India. He joined Hyundai in 2019 and was appointed to the board of directors in 2022 with expanded responsibilities covering Europe, India, Middle East and Africa, and Asia Pacific.​

"Under his guidance as COO, HMIL achieved record sales for three consecutive years, record-breaking profits and completed India's largest IPO in 2024," Muñoz added. He described Garg as a people-first leader who understands that success requires treating customers like honored guests, empowering teams and investing for the long term.