Hyundai India sales decline by 2.3 percent for Nov 2012

Hyundai Motor India Limited, second major auto manufacturer in the country and key exporter of passenger car vehicles have revealed their sales figures for the month of November 2012. Domestic sales stood at 34,751 units as against 35,000 units in the previous year while exports stood at 21,011 units down from 22,071 units exported in previous year. Aggregate sales too dipped 2.29% to 55,762 units as compared to 57,071 units in the same period of previous year.  Exports went down by 4.80% to 21,011 units during November 2012 from 22,071 units exported in the same month of 2011.

Current economic conditions, rise in inflation, higher interest rates and steep increased in fuel prices have adversely affected auto sales in the country. The recently concluded festive season failed to boost spirits and sales alike and most auto companies are feeling the heat as the year draws to a close.

Festive sales saw increased demand for petrol cars with special emphasis shown to Hyundai Eon. Demand is growing at a steady rate each month which is thereby leading to supply constraints. In the A2 segment consisting of Eon, Santro, i10 and i20, the company sold 48,650 units while of Accent and Verna in the A3 segment the company sold 6,526 units.  53 units of Hyundai Motor’s new SUV Santa Fe was also sold during the month while sales of Sonata, their luxury sedan reached 20 units and that of Elantra saw sales of 513 units.

Auto News Release

 Hyundai maintains growth in Jan-Nov, 2012 sales

Adverse market conditions continues to affect demand

New Delhi, December 01, 2012: Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter accounted the domestic sales of 34,751 units (35,000 units) and Exports of 21,011 units (22,071 units). The aggregate sales stood at 55,762 units (57,071units).

Commenting on the November sales, Mr Rakesh Srivastava, Vice President- Marketing and Sales, HMIL said, “The adverse market conditions due to high interest rates and inflation continued to pose challenges for growth. Increased diesel fuel price temporarily affected the strong momentum of diesel car sales. However, the festival season stimulated sales of petrol cars. Eon demand continues to grow month on month leading to supply challenges.”

The segment- wise cumulative sales for November 2012 are: A2 segment 48,650 Units (Eon, Santro, i10, i20); A3 Segment 6,526 units (Accent and Verna); A4 Segment 513 units (Elantra); A5 segment 20 units (Sonata); SUV 53 units (Santa Fe).