Hyundai Motor India registers sharp 41% sales decline in March

The country’s second-largest carmaker Hyundai Motor India today announced its preliminary sales numbers for the month of March.

The company registered total domestic volumes of 26,300 units with a significant 41 percent year-on-year sales decline, when it had clocked 44,350 units in March 2019.

Hyundai Motor India attributes this weak performance to the ongoing lock-down put as a precautionary measure by the Central government to curb the spread of the Coronavirus pandemic, which has hit business on the ground with dealerships as well as factories remaining shuttered.

While its manufacturing plant in Chennai has been shut since March 23, footfalls at dealers had already started declining. It could be inferred that customers would have delayed their purchases as April 1 marks the onset of the government-mandated BS VI emission regulations in India, which demand all manufacturers to only sell vehicles meeting the new norms.

Moreover, unlike arch rival Maruti Suzuki, which had switched a major portion of its portfolio to BS VI-compliant engines as early as July 2019, Hyundai Motor India only had the Grand i10 Nios, Aura and the Venue on offer as BS VI till last month. A fair number of the newly launched second-generation Creta SUV would have also formed a majority of the despatches to its dealers.

Hyundai Motor India’s exports were also down 64 percent to 5,979 units as against 16,800 shipments of March 2019.

Also read: Maruti Suzuki sales down 48% to 76,976 units in March