The Hindu Business Line : Hyundai’s domestic sales in Nov dip 23%

Mumbai, Dec. 2 Hyundai’s domestic sales dropped first time in the current year. The sales figures of November released by the company on Tuesday showed that the company’s domestic sales dropped 23 per cent to 14,605 units, against 19,052 units for the same month last year.

“The overall car market showed around 20 per cent drop this month. We are not exception,” Mr Arvind Saxena, Senior Vice-President, Sales and Marketing, Hyundai Motors India, told Business Line.

He said that the company would go for production cut in view of the declining sales. “We are monitoring sales on a day to day basis and will go for certain correction in our production as well,” he said.

The company’s export for the month rose 188 per cent in November. Hyundai exported 28,500 units in November against 9,898 units for the same month last year. However, Mr Saxena said, the company is facing challenge on export front as well.

“The economic slowdown is felt everywhere in the world. Our export orders are coming down as car sales are very much linked to the economic conditions”.

Hyundai, which initially planned to launch its high end hatchback i20 by the end of the year, has deferred the launch to January 2009.

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