Hyundai Motor India Limited (HMIL) has announced that the domestic sales figures of the company grew by 12.7 per cent in July 2014 as compared to the corresponding period in 2013. Strong sales have helped Hyundai grab a 23 per cent share of the Indian car market and retain its position as the country’s second largest car manufacturer.
While sales of the Verna have been hit hard because of the new Honda City, the recently launched Xcent has helped the Korean manufacturer boost its sales figures considerably. The company sold 29,260 vehicles in the last month as compared to 25,965 units it managed in July 2013.
Hyundai is India’s leading passenger cars exporter and currently ships off cars to around 120 countries across EU, Africa, Middle East, Latin America, Australia and the Asia Pacific. However, the export numbers of the company fell by a substantial 17.5 per cent which might be because of the pause in the production of the i20 hatchback. The production of the i20 was stopped a while ago as the model will be replaced by a new ‘Elite i20’ which will be launched in India on August 11.
Commenting on the growth, Rakesh Srivastava, Sr. VP, sales and marketing, HMIL said, “Hyundai volumes are 29,260 units with growth of 12.7 per cent over last year and 13.3 per cent cumulative growth. The demand pull created by the successful product launches and strong channel spread has brought down the discounts and the green shoots of growth are visible with the stabilization of macro-economic factors and near to average monsoons.”