The Hindu Business Line : `Car sales this fiscal may cross 1m mark'

WITH passenger cars and utility vehicle manufacturers seeing record high sales during 2003-04 in both the domestic and export markets, industry analysts are of the view that this combined figure might just cross the one million mark, even as many companies are still in the course of releasing their sales figures for the period.

Hyundai Motor India, for instance, on Friday announced all time high sales of 19,197 units during March 2004 to end the fiscal 2003-04 with sales at 171,903 units, 53 per cent higher than 2002-03 sales of 112,502 units.

Hyundai's flagship brand Santro recorded sales of 135,767 units in the last fiscal, about 51 per cent higher than the previous year.

The Accent recorded sales of 34,594 units, 64 per cent higher than FY03 sales.

With an increased thrust on exports, Hyundai's exports grew 370 per cent to 42,113 units in the year.

Commenting on the company's record sales, Mr J.I. Kim, Managing Director, HMIL, said, "Hyundai has always been responsive to the changing needs of its customers and our new Santro Xing has met with an overwhelming response, adding sizably to our improved sales this fiscal."

General Motors India too saw massive growth in the year recording a growth of 116.92 per cent in 2003-04 to 17,987 units as against 8,292 in the previous year.

The growth was driven primarily by the company's recently launched Chevrolet Optra model.

Honda Siel Cars also today announced a high growth in the year led by new launches, especially the new Honda City. The company ended 2003-04 with a sales growth of 63.1 per cent at 21,703 units as against 13,300 units sold during the 2002-03.

The company recorded sale of a total of 18,392 units of its City model, a growth of 53 per cent over last year.

It sold 2,111 units of the Honda Accord and 1,200 units of CR-V during the year.

Car market leader Maruti Udyog, which announced its sales on Thursday, led the race with an annual sale of 472,122 units in 2003-04, an increase of 30 per cent over the previous year.