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Foundry Daily News

03. December 2012

IN - Hyundai Motor sales down by 2.3pct in November

PTI reported that Hyundai Motor India Ltd has reported a 2.29% fall in total sales at 55,762 units in November.

It said that the company had sold 57,071 units in the corresponding month last year.

In the domestic market, the company recorded a marginal decline in sales at 34,751 units compared with 35,000 units in the year ago period. Exports went down by 4.8% to 21,011 units from 22,071 units.

Mr Rakesh Srivastava VP of Hyundai Motor said that “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.”

Mr Srivastava said that however, the festival season stimulated the sales of petrol cars with the demand for small car Eon growing every month. This, in turn led to supply challenges.

In the A2 segment, the company sold 48,650 units, while sales in the A3 segment stood at 6,526 units.

Source - PTI

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