Hyundai’s February sales down 4.8 percent

Tuesday, March 1, 2011

NEW DELHI - Automobile major Hyundai Motor India Ltd (HMIL) Tuesday reported a decline of 4.8 percent in its sales for February.

HMILs total sales for February 2011 stood at 52,007 units as against 54,610 units in February 2010, registering a decline of 4.8 percent, the company said in a statement.

Domestic sales picked up by 5.3 percent in February at 32,629 units as compared to 31,001 units in the corresponding period of last year.

Hyundai recorded positive growth supported by steady sales of its compact cars. We expect the average industry growth rate to stabilise in the future months, said Arvind Saxena, director, marketing and sales, HMIL.

The company, which is the largest exporter of cars in the country, reported a dip of 17.9 percent in its exports for February at 19,378 units as against 23,609 units in February 2010.

Segment-wise sales were led by the company’s compact cars, which includes the Santro, i10, and i20 at 47,167 units, followed by the A3 sedan segment of Accent and Verna with sales of 4,685 units, the A5 luxury-sedan segment of Sonata Transform at 29 units and the sports utility vehicle (SUV) Santa Fe at 126 units.

Filed under: Economy

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