Hyundai Motors Registers 2% Growth In May

Published: Thursday, June 2, 2011, 12:49 [IST]

Hyundai Motors' May sales increased by two percent according to data released by India's second largest carmaker in terms of sales. The Korean carmaker sold 47,766 units this month while it had sold 46,808 cars in May 2010. Hyundai Motors' domestic sales rose 14.62 per cent to 31,123 units while exports saw a decline of 15.33 per cent to 16,643 units. Hyundai exports the i10 and i20 hatchbacks from Chennai.

Hyundai Motors Director for marketing and sales accepted that car sales were affected by increasing fuel prices and interest rates. He said: “The market has slowed down considerably after the first quarter of the year because of increasing interest rates and rising fuel prices among other factors."

Hyundai's latest model, the Fluidic Verna had garnered more than 12,000 bookings. In its A2 segment (Santro i10 and i20), the company sold 40,520 units, while in the A3 segment (Accent and Verna) sales were at 7,110 units. The A5 segment (Sonata Transform) of HMIL witnessed sales of 14 units, while that of its new SUV Santa Fe stood at 122 units during the month. Hyundai Motors' sales can be considered as an indication of the Indian car market showing signs of slowing down this year.

Article Published On: Thursday, June 2, 2011, 12:25 [IST]

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