Comments
Car maker Hyundai Motor India Ltd (HMIL) today reported 8 per cent decline in total sales at 46,886 units in August. The company had sold 51,012 units in the corresponding month last year.
In the domestic market, the company recorded sales of 28,257 units compared with 26,677 units in the year-ago period, registering a growth of 5.9 per cent.
The company’s exports declined by 23.4 per cent to 18,629 units during the month against 24,335 units reported in the same period last year.
“The overall market demand is suppressed due to general inflationary trend, high fuel prices and interest rates.
Unless any major triggers get activated, market sentiment is not expected to improve very much,” HMIL Vice-President (National Sales) Rakesh Srivastava said.
On the domestic front, despite a sluggish market, sales have grown due to increased preference for diesel vehicles and niche consumer focused promotions, he added.
The launch of new Elantra also enhanced and strengthened the sales performance in premium segment, Srivastava said.
In the A2 segment (Eon, Santro, i10 and i20), the company sold 40,049 units, in August while sales in the A3 segment (Accent and Verna) stood at 6145 units.
Sales of A4 segment (Elantra) was at 608 units. The company sold 65 units of the new sports utility vehicle Santa Fe during the month. Sales of luxury sedan Sonata stood at 19 units.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.