Hyundai India has for long enjoyed the status of being the second largest car manufacturer here. While the company enjoys a strongly cemented podium spot, overall muted sales environment doesn’t exempt even Hyundai from being sluggish.
Hyundai India had announced a price increase up to Rs 30,000 across it’s product portfolio wef January 2019 on account of increase in input costs. Exports for the month haven’t been revealed. To help maintain sales momentum, Hyundai did offer a limited period offer till stocks lasted on its My18 and MY19 models.
As the automaker tides by a slow start to the year, earlier in the month, Hyundai did confirm important developments pertaining to the long term. Having clocked their highest ever sales in a calendar year at 7,10,012 units, up 4.7 percent from 6,78,221 units sold in 2017, the company has finalized plant expansion plans.
A fresh investment of Rs. 7,000 crores in its Chennai manufacturing facility will sees a major chunk of the funds invested in development of a new assembly for the Kona electric crossover. Alongside, the company is also expected to increase production by 1 lakh units at the Sriperumpudur.
Vikas Jain- National Sales Head, Hyundai Motor India Ltd. said, “January 2019 started on a cautious note however Hyundai Motor India registered all model growth on account of strong performance by All New SANTRO, GRAND i10, ELITE i20, CRETA and Next Gen VERNA.
The Government has announced many people oriented schemes with focus towards rural economy during the Interim Budget 2019-20 and we expect this will give positive impetus to the customer sentiments and business environment.”