Hyundai Motor India, like Maruti Suzuki India, has felt the pressure of slow sales in June as a result of consumers delaying purchase ahead of GST kicking in on July 1.
The Korean carmaker has reported domestic market sales of 37,562 units, down 5.6 percent year on year (June 2016: 39,807).
Commenting on the June sales, Rakesh Srivastava, director - Sales and Marketing, said, “In a challenging market fuelled with speculations on the GST tax structure; Hyundai registered highest ever half year (H1: January-June 2017) domestic sales at 253,428 units with a growth of 4.1 percent on account of strong acceptance of the Grand i10, Elite i20 and Creta. We expect a positive demand pull after the successful implementation of GST in the coming months as industry will witness heightened level of customers’ interest in a seamless unified single market.”
Maruti Suzuki sells 93,263 units in June (+1.2%), and 368,431 in Q1 FY2018 (+14.3%)
Toyota Kirloskar Motor sells 1,973 units in June, down 85% YoY