Hyundai sells over 50,000 units, registers 23.6% year-on-year growth in Sept1 min read . Updated: 01 Oct 2020, 03:08 PM IST
Hyundai is seeing an uptick in sales and managed to sell 50,313 in the domestic market in September.
- The 23.6% year-on-year growth is for domestic sales alone even as exports remain significantly muted.
Hyundai Motor India on Thursday announced it sold 50,313 units in the domestic market in the month of September, up from 45,809 units sold here a month earlier. This also means the company has registered a health year-on-year growth of 23.6 per cent when compared domestic sales figures from last month are compared to September 2019.
While Hyundai had managed to sell 40,705 units in the domestic market in September of 2019, the return to the 50,000 mark would come as a major sign of relief for the country's No. 2 car maker. Much of the credit for the strong performance may be credited to the launch of Creta 2020 and Verna 2020 in recent months as well as the continuing success of Venue which only now faces increased competition from the newer players like Kia Sonet and Toyota Urban Cruiser.
Exports though remain significantly muted. India is one of the major hubs from where Hyundai also exports its vehicles and while 17,000 units were shipped in September of 2019, only 9,600 units were exported last month. As such, the cumulative year-on-year rise is 3.8 per cent.
Even still, Hyundai would now be looking at the festive period with a lot of eagerness because it does have fresh products in its garage to lure customers with. "In the changing business environment, the green shoots of recovery are clearly visible with sales improving on a month-on-month as well as year on year basis," said Tarun Garg, Director - Sales, Marketing and Service, Hyundai Motor India. "We are confident that the coming festive season will drive the market on a steady recovery path with positive customer sentiments."