Hyundai sales slip further in March, registers 14 percent drop
Hyundai Motor continues to be the second largest carmaker in India, but just about. The carmaker's sales tally has been on a decline for the past few months. In March, the Korean car manufacturer registered a drop of 14 percent in sales compared to the same month last year. Hyundai sold 55,287 units last month, as it continues to struggle with ongoing chip shortage crisis like other carmakers.
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Hyundai had sold 64,621 units back in March last year. However, considering month-on-month performance, there is a slimmer of hope for recovery. In February this year, Hyundai had sold 44,050 units, compared to 55,287 units last month, which is a jump of more than 25 percent.
In February too, Hyundai witnessed a similar dip in sales. The carmaker sold 44,050 units in the domestic market in February, down from 51,600 sold in the same month in 2021.
Overall, the 2021-22 financial year has not been a disappointment for Hyundai. The Korean carmaker clocked total sales of 6,10,760 units. It is a marginal increase of around six percent over 5,75,877 units it sold during the 2020-21 financial year. While exports have increased by almost 25 percent for Hyundai during this period with 1,29,260 units, domestic sales have also seen a slim rise. Hyundai sold 4,81,500 cars to Indian customers in the last fiscal against 4,71,535 units in 2020-21.
Hyundai's struggle with chip crisis continues as waiting periods for its flagship cars keep extending. Creta and Venue SUVs, which form a huge part of its overall sales, have waiting period running into months. Alcazar, Hyundai's three-row SUV, has a lesser waiting period. Despite the popularity of its SUVs and hatchbacks, Hyundai has not been able to translate them in solid sales numbers due to the ongoing crisis.