Hyundai Motor India sales down 8% in August
The country's second-largest car maker Hyundai Motor India Ltd (HMIL) on Saturday reported 8 percent decline in total sales at 46,886 units in August.
New Delhi: The country's second-largest car maker Hyundai Motor India Ltd (HMIL) on Saturday reported 8 percent decline in total sales at 46,886 units in August.
The company had sold 51,012 units in the corresponding month last year, HMIL said in a statement.
In the domestic market, the company recorded sales of 28,257 units compared to 26,677 units in the year-ago period, registering a growth of 5.9 percent.
Exports of the company declined by 23.4 percent to 18,629 units during the month under review from 24,335 units in the same period last year, the statement said.
"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.