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Hyundai India records decline of 11.8 per cent in last month sales

Hyundai India records decline of 11.8 per cent in last month sales

Snapshot: Hyundai India sold a total sold 50,222 units last month, registered decline of 11.8 pe rcent

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Hyundai India today reported a decline of 11.8 per cent in its total sales last month derived year-on-year basis. The Korean automaker sold 50,222 units as against 56,953 units in the same period last year. However, the company's domestic sales climbed up by 8.8 per cent with sales of 35,248 units in comparison to 32,403 units in the corresponding period.

Commenting on the April sales Mr. Rakesh Srivastava, Sr. VP- Sales and Marketing, HMIL said, “Hyundai with a volume of 35,248 units has grown by 8.8% over last year which is in line with this year’s objective of growth in volume and market share. Growth is led by sedan and utility vehicles across geographies, with new products Xcent, Grand and Santa Fe, adding volumes with an overwhelming response from customers. We foresee to maintain this positive momentum in this year by strengthening product portfolio and improving channel efficiencies.”

Hyundai has been India's largest car exporter with selling between 20,000-25,000 units every month to offshore markets. But last month, Hyundai export figures went down by a huge margin of 39 per cent. The figures stood at 14,974 units as against 24,550 units in April last year. Sluggish economic conditions and drop in rupee value are majorly blamed for drop in the export operations.

HMIL sales

April 2013

April 2014

(%)

Domestic

32,403

35,248

8.8

Exports

24,550

14,974

-39

Cumulative

56,953

50,222

-11.8

 

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