New Hyundai Grand i10 eating into i10 sales
Back in September 2013, Hyundai India launched the all new Grand i10 hatchback. Slotted between the existing i10 and i20, the new Grand i10 is launched to compete with the segment leader, Maruti Suzuki Swift, and to an extent, Hyundai has been successful.
After the launch of Grand i10 on 3rd Sep, for the month of Sep and Oct, i10 sales have averaged at 3,400 per month. On the other hand, in the same period, Grand i10 has amassed total sales of 21,777 units, which means they have averaged at about 11k units a month. Apart from this, the launch of Grand i10 has hardly made an impact on their overall sales. Not exactly the start one would hope from a car maker which has challenged Maruti Suzuki India.
For Oct 2013, Hyundai India posted a decline in overall sales by about 14% for October 2013, as compared to that of Oct 2012. But, they did manage to post highest domestic sales this year in October 2013. Commenting on October sales Mr. Rakesh Srivastava, Senior Vice President, Sales & Marketing, HMIL said, “In this challenging market environment, sales have increased over last month by 17% on account of monsoons, festival buying and strong sales of 11,519 units of new model Grand which received an overwhelming customer response making it to the top five volume sellers within 2 months of its launch.”