Financial Daily from THE HINDU group of publications
Friday, Mar 04, 2005
Financial Daily from THE HINDU group of publications Friday, Mar 04, 2005 |
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Corporate
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Performance Hyundai domestic sales fall in Feb Our Bureau
New Delhi , March 3 HYUNDAI Motor India Ltd saw two per cent year-on-year rise in total sales as domestic sales dropped to 9,522 vehicles in February following industry-wide slowdown. "The auto industry overall witnessed a slowdown in February because customers deferred purchases, expecting a post-Budget fall in prices of vehicles," Hyundai Motor India President, Mr B.V.R. Subbu, said in a statement here. The company's domestic sales in February included 5,881 units of the Santro, 1,166 units of the Getz, 2,235 Accents, 183 Elantras and 53 Sonatas. However, exports rose 60 per cent year-on-year to 6,264 units, the company said. "As the Budget proposals include some import duty cuts, we are studying the impact these cuts will have on the price of relatively high import intensity models like Elantra and Sonata, and will pass on the price benefits to our customers in the next few days," Mr Subbu added.
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