Hyundai posts robust growth in December despite slowdown

January 2nd, 2009 - 9:35 pm ICT by IANS  

New Delhi, Jan 2 (IANS) Hyundai Motors registered an overall growth of 55.7 percent in December in terms of units sold, including both domestic and export volumes, the company said in a statement Friday.The company sold 38,402 units last month as against 24,464 units in December 2007.

Hyundai, which is the country’s biggest automobile exporters, marked a robust 96.8 percent year-on-year export growth for December despite the slowdown in the auto industry globally. The company exported 11,586 vehicles in December 2007 as compared to 22,800 units last month.

Domestic sales registered a 19.3 percent growth during the month, the automaker managing to better last year December’s figures by 2,524 units.

For the calendar year 2008, the South Korean automaker sold 489,328 units during the 12 months at a growth rate of 49.6 percent. The annual cumulative growth rate for the export and domestic market accounted to 92.4 percent and 22.4 percent respectively.

“Since the last quarter of 2008 the market situation has become extremely challenging. We at HMIL have fared better as we have a strong line-up of products in the compact segment, which has kept our sales steady,” said Arvind Saxena, senior vice-president of Hyundai’s marketing and sales division.

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