Hyundai Motor India Ltd (HMIL) today reported a 1.4 per cent decline in total sales at 44,784 units in January.
The company had sold 45,413 units in the same month last year, it said in a statement.
In the domestic market, Hyundai sold 34,780 units last month as compared to 33,405 units in January 2014, up 4.1 per cent.
During the month, Hyundai’s exports declined by 16.7 per cent to 10,004 units as against 12,008 units in the same period last year.
Commenting on the sales performance, HMIL Senior Vice-President (Sales and Marketing) Rakesh Srivastava said: “This growth came in on the momentum built by leading products like new Elite i20, Grand and Eon while facing the stiff challenges of increasing cost of ownership on account of an increase in excise duties”.
For sustained growth, the need of the hour is reduction in interest rates and rationalisation of taxes to increase the inflow of the first time buyers, he added.