Latest Car News in India

Hyundai cars clocks over 16 percent growth, thanks to exports as domestic sales remains meek

If Mahindra Motors has registered a growth of over 28 percent, how can Hyundai Motors be behind? India’s second largest car maker Hyundai has registered a total sales growth of over 16 percent in May this year over the same period last year. Is it Hyundai Eon or the new Hyundai i20 that helped the Korean motor company pick up sales so fast even when there are more leg pulling factors than those helping car sales. As per the official sales report by Hyundai, it had sold over 55k units in the last month.

However not as inspiring as that of Mahindra Motors but, Hyundai’s car sales in May remained decent even when the last week saw the steepest rise in petrol prices and a further dip in petrol car sales. Hyundai sold 47,762 units last year in May. Surprisingly where the overall sales remained too confirmative, the domestic sales remained meek with only a growth of 2.85 percent. And Hyundai sold only over 1000 units more than May last year. Thus it is revealed that Hyundai’s growth in sales has a major share of exports and thus there is no miracle caused due to domestic sales. Most importantly Hyundai exports saw a steep rise of over 42.20 percent and the Korean car company sold 23,660 units outside India.

Arvind Saxena, Hyundai Director seemed too pessimistic over the current scenario that is a direct result of petrol price hike, overall economic slowdown, and depressed demand. Meanwhile, in order to push sales of its small cars such as Hyundai i10 and Hyundai Santro, Hyundai has already launched the 5 Star Assurance program wherein car buyers who buy any of these cars get 5 additional benefits such as free insurance, 5 year maintenance and a lot of other offers. The major segment that attracted much sales remained the one that comprises of Hyundai Eon, Santro, i10, and the next generation i20 launched recently. However, the newly fluidic inspired new Hyundai Santa Fe also saw many takers during the month. The second best selling Hyundai cars comprised of Hyundai Accent and Hyundai Verna.