Hyundai India domestic March 2013 sales decline 13.5% and vehicle price hike from today

Hyundai India domestic March 2013 sales decline 13.5% and vehicle price hike from today

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Hyundai IndiaHyundai Motor India Ltd (HMIL), has registered 12.3% growth in Exports for March 2013. Domestic HMIL passenger car sales accounted for 33,858 units for March 2013 as compared to 39122 vehicles sold in March 2012. This equates to 13.5 sales decline. Hyundai exports from here stood at 22,579 units for March 2013 as compared to 20,107 vehicles in March 2012. This equates to 12.3% sales growth.

Cumulative sales for last month stand at 56,437 vehicles as compared to 59,229 units in March 2012. This equates to 4.7% sales decline. Rakesh Srivastava, Vice President, Sales and Marketing, HMIL said, “The slowdown of economy is impacting vehicle sales. Against large base of last year there was a sharp drop in conversion of enquiries in the absence of any positive stimulus and sentiments. We foresee the pressure on volumes to continue till there is significant improvement in macro-economic factors. In the last quarter, Hyundai gained in market share with its strong performance and marketing initiatives as during slow down customers prefer products with higher quality, assurance and aspiration”.

Segment-wise HMIL cumulative sales for March 2013 are 47,678 units (Santro, Eon, i10) in the A2 segment, 8,143 Units (Accent and Verna) in the A3 Segment, 546 units (Elantra) in the A4 Segment, 20 units (Sonata) in the A5 segment, and 50 units (Santa Fe) in the SUV segment. Hyundai Motors India Limited (HMIL) today announced a price hike across its range of vehicles, right from the entry level small car Eon, to top of the line Santa Fe. This price hike ranges from INR 577 to INR 2,830 and follows higher input costs, fluctuations in currencies and higher taxes following the recent Union Budget 2013. These new prices are effective from 1st April 2013. Till date the company had tried to absorb all these additional expenses and not burden customers, but has now decided to pass on a percentage of these added costs to customers.

Post April 1, 2013, the Hyundai i20 will see a price increase of INR 575 for both their diesel and petrol variants while the Eon petrol will be available at a price increase of INR 2,500. Santro’s petrol variant will be hiked by INR 2,830 while the Verna and Elantra will see price hikes to the tune of INR 1,340 and INR 1,740 respectively. Sonata and Santa Fe petrol and diesel variants will both be priced higher by Rs 2,813.

Mr. Rakesh Srivastava, Vice President, Sales and marketing said, “The price increase was necessitated due to On Board Diagnostic Compliance Changes (OBDC). We have increased the prices in the range of Rs.575 to Rs.2,830 across all the models. We have tried to absorb the maximum cost to minimize the price increase to cause less inconvenience to our valued customers.”

HMIL March 2013 sales