Hindustan Motors 90% sales increase for April 2013
Hindustan Motors 90% sales increase for April 2013. YoY sales growth for the Q1 period January to March 2013 saw an increase of 104.37%, 166.45% and 24.33% respectively.
The current economic scenario, higher interest rates and slowdown in the auto sector has not affected sales of Hindustan Motors adversely during the Q1 period, and in the month of April as well. The home based automaker owned by C K Birla Group reported that sales during April reached 534 units, up 90.71% as compared to 280 units sold in April 2012.
YoY sales growth for the Q1 period January to March 2013 saw an increase of 104.37%, 166.45% and 24.33% respectively. This noteworthy growth since the start of this year was primarily due to product excellence, augmentation of quality of products based on customer feedback along with the companyâ€™s foray into untapped markets in the hinterlands of the country.
Reaching a low point earlier, Hindustan Motors, headquartered in Kolkata, has also shifted focus to commercial vehicles. It introduced the 0.8 tonne commercial vehicle Veer and now has plans to bring in Ambassador BS4 compliant with a diesel engine into Indian markets which should be launched by the end of June. Apart fromÂ focusingÂ on Mitsubishi, In past 6 months, Hindustan Motors has augmented their dealer lineup. 20 new dealers in the smaller towns of Bihar, Orissa and in the North East have been added taking totals to 70. The company is also entering into contracts with banks to offer easy loan schemes to buyers in a bid to boost sales.
HMâ€™s Managing Director & CEO, Mr. Uttam Bose, commented, â€śOperational excellence, improvement in quality based on customer feedback and foraying into remote markets, which were hitherto untapped, are some of the measures which have contributed to continuous rise in HMâ€™s sales during the past four months. The growth is all the more encouraging as it is happening despite a general downturn in the passenger car segment across the country. We know that challenges like general economic slowdown, high interest rates and low buyer sentiment are quite formidable for the entire automobile industry, especially the passenger car segment. However, Hindustan Motors is all set to introduce its BS IV-compliant Ambassador by June-end.â€ť