Hyundai February sales rise over 45 percent

March 2nd, 2009 - 3:19 pm ICT by IANS  

New Delhi, March 2 (IANS) Hyundai Motor India’s domestic sales soared by over 45 percent in February compared to its sales the same month last fiscal, the company said Monday, but added that times were still challenging and nothing should be read into increased sales.
Cumulative sales increased by about 32 percent and exports by over 18 percent, a company statement said.

“While January 2009 sales growth for both the industry as well as Hyundai Motor had been negative, February 2009 sales saw a slight upturn with double digit growth for the industry,” the company’s marketing and sales senior vice president Arvind Saxena said.

Hyundai, however, was reluctant to attach any significance to the increase in sales. “The overall market situation continues to be challenging and not much should be read into the February growth as last year in February, the budget was to be announced and a substantial amount of sales were deferred till March. We expect a fairly flat sales growth curve for the industry for the first quarter ending March 2009,” Saxena said.

Hyundai’s total sales last month stood at 38,254 units, as against 29,001 units in the same month last year. The domestic market accounted for 21,215 units, compared to 14,600 units last year, while exports totalled 17,039 units, as against 14,401 units in February 2008.

However, the overall market situation continues to be challenging and not much should be read into the last month’s growth, as last year, the annual budget was to be announced in February and a substantial amount of sales were deferred till March, Saxena said.

Of the segment-wise cumulative sales, the highest was recorded by Hyundai’s A2 segment comprising its Santro, i10, Getz and i20 models: over 34,000 units.

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