November 2020 domestic sales highest ever for the month for Hyundai Motor India
Depending on when the festive season in India sets foot, manufacturers have a lot to plan and execute. Among other things, the period ensures a surge of footfalls at dealerships, which can then be converted to sale based on a range of circumstances. Recently concluded festivities helped Hyundai report its highest ever November sales with Diwali demand out to have played an important role.
Hyundai India sales for November 2020
For November 2020, Hyundai Motor India reports wholesales at 48,800 Units in November 2020. Exports is reported at 10,400 units. Cumulative sales grew to 59,200 Units for November 2020. Recently introduced all-new i20 boosted festive momentum even in the post Diwali to facilitate 9.4 percent sales growth YoY, up from 44,600 units reported in November 2019.
Exports declined by more than a third at 34.6 percent, down from 15,900 units. Cumulative sales declined 2.1 percent, down to 59,200 units on account of export contraction.
Tarun Garg, Director (Sales, Marketing & Service), HMIL said, “Building on the strong sales momentum that was driven by festive demand this year, Hyundai Motor India continues to build high customer excitement through a line-up of technologically advanced and futuristic products.
We will continue our efforts towards driving customer delight through our innovative solutions along with most loved products thereby positively contributing towards the sustained growth of the Indian Industry and economy, while benefiting societies and multiple stake holders.”
Sales momentum in 2020
Sales in recent weeks has been ticking most boxes for manufacturers owing to an opportune mix of factors. To begin with, the Indian auto industry was plagued with sales slowdown in 2019 itself. With the mandated date for BS6 vehicles approaching, production switches had to be made to ensure no one’s stuck dealing with deadstock of BSIV vehicles as on April 1, 2020. The wait for BS6 cars meant buyers revised purchase decision in a number of instances, preferring to wait for an updated emission vehicle rather than opting for a BSIV car.
Add to this, sudden lockdown announced in March 2020. As manufacturing activity resumed in May 2020, and supply chain and logistic networks were smoothened, manufacturers are now in a position to deliver on all pent-up demand. With the festive season being one of improved sales, a lot of the pent-up demand was converted to actual sales in recent weeks.
There’s also a thought revision in regard to how people commute. With public transport having only just started limping back to normalcy, and the need to maintain safe physical distance wherever possible being of topmost focus, car buying decisions that were waiting to be made are now being made.
To encourage sales, banks too have curated and reworked personal vehicle loas to meet customer requirement and match customer sentiment. Ease of EMI payment and flexibility of loan repayment and EMI duration have all worked hand in hand to create a buyer positive market situation.