Hyundai car sales grow by 5.4 percent

Friday, March 01, 2013

By Shilpa Chopra

Hyundai car sales grow by 5.4 percent

If winter comes, can spring be far behind! This is what the car makers should believe. Maruti sales in February are down by 8 percent and the second largest car maker Hyundai not doing good as well. As per the official communication, Hyundai sales are up by 5.4 percent only and this shows how pathetic the market condition is. The A2 segment or the small car segment that consists of Hyundai Eon, legendary Hyundai Santro, new i10, and the more than hatchback i20 received the maximum volume. The condition is expected to go worse now after the budget as car prices will be up at least for SUVs and imported cars. Meanwhile, the rise in petrol and diesel prices also has a determining impact on sales. High interest rates and the low sentiment in the market already have marred sales since months in a row.

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In all, Hyundai sold around 51855 units in February in which the major contribution is of domestic sales while the exports stood at 15050 units. Notably, where domestic car sales of Hyundai cars fell by over 7 percent, the export rose by 37.2 percent in the same month as compared to the same period last year. Hyundai Accent and Hyundai Verna were the second highest selling cars with over 7700 units. The newly launched Hyundai Elantra got 470 units sales while there were only 20 Hyundai Sonata sold in the last month. Only 66 units of Hyundai Santa Fe SUV were sold in the said month.

Thus, it can be said that February had been a not so promising month for the car maker but it has at least given it a single figure growth compared to Maruti that is in red. It is believed that since there is no scope of any improvement in the market conditions and situation may get worse in the near future, the sales in the coming months will be almost the same or worse indeed. Also, Hyundai has no known plans of a car launch in the coming months and if there is any car in the MPV or compact SUV segment, one can see real growth coming in instantly.