Hyundai Motor India sales down by 8% in July

Hyundai Motor India registered a negative growth of about 8 per cent in its total sales in July. The South Korean car manufacturer sold 48,704 units as against 52,845 units in the same month last year.

The domestic sales of the company stood at 25,965 units during July 2013, a decline of 5.87 per cent from 27,585 units in the same month year ago. Moreover, the exports during the month were also down by 9.98 per cent. The company exported 22,739 units as compared to 25,260 units in the same month last year.

Commenting on the sales, HMIL Senior Vice-President, Sales and Marketing Rakesh Srivastava, said: "Volumes are under pressure despite attractive consumer promotion as customer and market sentiments continue to be suppressed. The frequent price increase in the fuel price on account of depreciating rupee has further increased the challenge to grow volumes."