Hyundai Motor India Ltd has sold 38,100 units in domestic market and exports of 18,000 with 5.58% and 26.67% growth. Hyundai registered lesser growth during Diwali festival compare to September 2014. Market was expecting better growth in October 14.
Cumulative sales of 56,010 units for the month of October FY 2015 with 11.50% growth compare to October FY 2014.
Commenting on the October sales Mr. Rakesh Srivastava, Sr. VP- Sales and Marketing, HMIL said, “Hyundai volumes grew by 9% over last month with significant increase in sales of additional and replacement buyers propelled by strong demand lead by new models like Elite i20, Xcent coupled with festival buying. We anticipate that this positive momentum would build up further with increase in sales of entry buyers if there is strong promise of improvement in economic and macro factors in rural and urban markets “
September 2014 Sales Overview:
Hyundai Motor has sold 35,041 units in domestic market and exports of 16,430 with 14.5% growth and 21.1% de growth.
Cumulative sales of 51,471 units for the month of September FY 2015 with 0.1% growth compare to September FY 2014.
Commenting on the September sales Mr. Rakesh Srivastava, Sr. VP- Sales and Marketing, HMIL said, “Hyundai volumes have grown by 14.5 % for September and 12.8% for first half of the year with strong performance of new models lead by 8,902 units of new Elite i20. In this festive season, we are seeing a significant increase in first time buyers and exchange buyers which is very encouraging as it will accelerate the positive momentum already being experienced in the last few months.”
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Source: Hyundai India, ACG
The better figures for September 2014 was common across the industry. This was because most distribution networks were ramping up inventories for the festival period which kicked off in the last 2 days of September,2014 and ended before the month ending of October.
Nikunj Sanghi
Automobile Dealer and Past President FADA