Hyundai Motor India posts flat sales in September

New Delhi, October 1, 2013: Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer, has registered domestic sales of 30,851 units in September 2013, down 0.8 percent on September 2012 sales. Like market leader Maruti Suzuki India, the company has been hit by slowing footfalls in showrooms as a result of consistent fuel price hikes and high interest rates.

On the export front, the company, which is India’s largest car exporter, sold 22,706 units in September 2013, down 8.3 percent on sales a year ago (September 2012: 20,817)

Commenting on the month’s sales, Rakesh Srivastava, senior vice-president, sales and marketing, HMIL, said, “In the current market scenario volume growth is a big challenge. Last month, we launched our new model Grand i10 in the midst of slowdown and have received phenomenal response from our customers. We expect the market challenges to continue and have a cautious optimism for the upcoming festive season.”

Effective October 1, HMIL has hiked the prices of its car range by Rs 4,000 to Rs 20,000, citing the rupee depreciation and inflationary trends which have impacted its input costs.