Financial Daily from THE HINDU group of publications
Friday, Jun 03, 2005
Financial Daily from THE HINDU group of publications Friday, Jun 03, 2005 |
|
|
|
|
|
Corporate
-
Performance Hyundai Motor sales rise 82.5 pc in May — New-gen Accent model in 2006 Our Bureau
New Delhi , June 2 HYUNDAI Motor India has reported an 82.5 per cent rise in sales in May this year at 23,206 units against 12,712 units in the same month last year. The company said the growth in the domestic market was almost 81 per cent with 14,001 units in May this year against 7,739 in May 2004. On the export front also, sales were up 85.10 per cent to 9,205 units from 4,973 units. Sales in the A2 segment, where it sells the flagship `Santro' and `Getz', were up 73.2 per cent to 11,072 units from 6,394 units. The sale of the mid-size `Accent' saw a 658 per cent growth, with the company selling 2,547 units against only 336 units in May 2004. However, `Sonata' as well as `Elantra' saw a dip in sales during May 2005. While Elantra sales dipped by almost 75 per cent to 224 units, those of Sonata fell by 68 per cent to 32 units. Speaking to newspersons after announcing the May sales, the Hyundai Motor India's President, Mr B.V.R. Subbu, said the company would launch a "new generation" model of Accent in the second half of 2006, with an investment of $130 million. The new Accent would be built on a new platform. The Accent, which sports 1.5-litre CRDi diesel and petrol engines, is currently priced at Rs 5.2-7 lakh (ex-showroom Delhi). Besides selling in the domestic market, this car is also exported. Mr Subbu said the company was looking to raise the production of Accent (it makes 3,000 Accents at present) by 50 per cent to cater to the domestic market as well as to export commitments. It has already announced the launch of the all-new luxury sedan `Sonata'. On whether its latest hatchback `Getz' was facing a threat from Maruti Udyog's new launch `Swift', he said: "We believe that the two cars are not in the same category... we don't see the Getz under any threat." He said Swift was instead pitted against its flagship model `Santro', but ruled out any plans to revise the pricing of any of its models just yet.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|