Hyundai observes double-digit sales growth in 2021, expects growth to continue
Hyundai Motor India has reported a double-digit increase in the total wholesales in 2021 as compared to the year 2020. The company also expects the sales momentum to continue this year as well with the support of positive factors such as improvement in the availability of semiconductors.
Hyundai Motor India Director (Sales, Marketing and Service) Tarun Garg told PTI that the company is entering 2022 with cautious optimism.
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“There are more positives than negatives and we are looking to a better year with so much of the customer booking backlog. Besides, our product line-up is refreshed," he said. He also added that the sales of the CNG trim also continue to grow year on year.
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While Garg highlighted the challenges that come with the new Covid variant Omicron, he also stated that there are other things to look forward to. Low-interest rates, estimates of robust GDP growth and a good pace of vaccination are some of the positives that he shared.
The company conveyed that its total dispatches increased by 21.6 per cent in 2021 to 6,35,413 units as compared with 5,22,542 units in 2020. The automaker also announced sales of 5,05,033 units in the domestic market last year, which increased by 19.2 per cent from 4,23,642 units in 2020. Similarly, exports also grew by 1,30,380 units last year compared to the 98,900 units in 2020.
However, last month the brand observed a drop of 26.6 per cent in the total wholesales that stood at 48,933 units compared to the 66,750 units in December 2020. Hyundai also conveyed that its domestic dispatches plummeted by 31.8 per cent to 32,312 units as against 47,400 units in the same month last year. The company's exports stood at 16,621 units compared to 19,350 units in December 2020. Despite key component supply constraints, Hyundai has managed challenges to ensure smooth deliveries of models, Garg added.