Hyundai register 1% domestic growth

Hyundai Motor India Ltd, the country’s second largest car manufacturer and the largest passenger car exporter continued to grow with domestic sales growing at 1% for the month of March, 2011.

HMIL’s total sales for March, 2011 stood at 55,552 units as against 55,027 units in March, 2010 registering a growth of 1%. The domestic sales accounted for 31,822 units as against 31,501 units in March, 2010 while the exports grew by 0.9% from 23,526 units in March, 2010 to 23,730 units in March, 2011.

Commenting on March, 2011 sales, Arvind Saxena, Director - Marketing and Sales, HMIL said, “With rising interest rates and increasing prices due to higher input costs the market is less buoyant than what it was last year. HMIL has managed to grow in terms of overall volume although the rate of growth has slowed down. In the second half of the year we expect HMIL sales to grow at a faster pace.”

The segment-wise cumulative sales for the month of March, 2011 are as follows: A2 segment (Santro, i10, i20) 50,488 units; A3 Segment (Accent & Verna) 4,920 units; A5 segment (Sonata Transform) 23 units; Santa Fe (SUV) 121 units.

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