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8% Fall in Sales for Hyundai Motors in July

Snapshot: Hyundai Motor India Ltd has disclosed that the company’s car sales have been reduced by 8 % in the month of July

Hyundai Motor India Ltd has disclosed that the company’s car sales have been reduced by 8 % in the month of July. This news was expressed in its main branch present in New Delhi where only 48,704 cars were sold in the month of July compared to 52,845 car sales in the past year in the same month. The domestic sales of the car was also reduced where only 25,965 car units were sold in July whereas there were 27,585 units sold in the previous years month. Along with the inland sales of Hyundai Motor the company has also experienced depletion of export rates compared to the last years July month. Last year 24,335 units were exported whereas July month of this year experienced only 18,629 exports with the decline of 23.4 percent. According to Vice president of National sales Rakesh Srivastava the depletion of car sales is nothing to do with the car’s efficiency or the manufacturer’s impression on the trusted customers.

Srivastava expressed that the reason behind the sluggish sales of the car is mainly because of the global reasons like inflation, day by day hike in the fuel price as the cost of crude oil is increasing in the global market, Customer’s interest on the diesel cars and downfall of rupee value compared to dollar rate. He also mentioned that the condition will not improve until and unless there is some major trigger in the market. With the average depletion of car sales, New Elantra which was released in the same period has got good insight in the customer’s mind. He also added that this car has seen good sales compared to any other models all over India. With the long term exposure in the Indian market with good service, they are expecting to reverse the things back as soon as possible.

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