The glum markets and rising interest rates have been looming since past few months. Car makers had been anxious about rising prices of their car to keep up the manufacturing costs. However, Hyundai has already posted its growth records even in such market conditions.
It posted an increase of 36.71 percent in domestic sales in the past month. It reported a jump of selling 21,501 units in April 2008 against 15,728 units in the same month last year. The cumulative sales were up by 47.77% which included exports as well. It sold 40,001 units this year as compared to 27,069 units in the April 2007. In the current year, exports constituted 18,500 units against the 11,341 units during the same period in the previous year.
Senior vice President of Hyundai Motors India, Arvind Saxena, said that the company has recorded robust growth in the past month and the significant contributions to the growth attributed to the budget this year.
Hyundai currently marks a strong presence in India in the small car segment with its models Getz, Santro, i10. It also has Elantra, Accent, Verna, Sonnata and Tucson in other segments.
