Hyundai Motor India 12.7% sales decline in January 2014, exports downturn

The start of 2014 hasn’t been the best for Hyundai in terms of exports entailing a sizeable downturn. For January 2014, HMIL domestic sales stood at 33,405 units, and exports at 12,010 units with cumulative sales of 45,415 units.

When compared to January 2013, HMIL domestic sales stood at 34,302 units, equating to 2.6% sales decline, and exports at 17,722 units equating to 32.2% sales decline. In all cumulative sales in January 2013 was 52,024 units, equating to 12.7 sales decline.

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Hyundai Motor India Limited (HMIL) recently received the Gold Trophy at the 45th EEPC INDIA National Awards for Export Excellence for being the Top Exporter in the year 2012-13 in the Large enterprise category. Dr. James S. Mutende, Minister of State for Industry and Technology, Uganda presented the award to senior HMIL officials in an award ceremony held in Mumbai.

Hyundai exports to over 120 countries in European and non-European markets, and is the largest passenger car exporter since 2004, with a market leadership of 45%. During the year 2012-13, Hyundai exported 259,811 cars to export markets with a growth of 9.4% in the year