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NEW DELHI, March 5

HYUNDAI Motor India Ltd has announced sales of 7,430 units for February. While the domestic sales declined in the face of an impending excise duty cut, exports grew to 543 units from 16 units in February 2002.

Commenting on the sales, Mr B.G. Lee, Executive Director - Marketing, HMIL, said, "We expect the reduction in excise duty to expand domestic demand and this combined with our aggressive export thrust will position us strongly to achieve the half-a-million units landmark this year ahead of schedule."

Following a cut in excise duty from 32 per cent to 24 per cent in the Union Budget 2003, HMIL announced a Rs 15,000-80,000 reduction in the prices across its various models.

HMIL has set for itself a target of achieving the half a million units mark in cumulative during calendar year 2003.

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