The domestic passenger car sales for Hyundai Motors India Limited have reported a 47.27 percent jump. The overall sales figures of the passenger cars in May were 24,510 units against 16.643 units in the same period last month. The overall growth was 51.5 percent as its sold total 40,261 units in the month of May. The exports recorded sales of 15,751 units in the same month.
According the Senior Vice President for Sales and Marketing, of Hyundai Motors India Limited, Arvind Saxena, “In spite of slowdown in the industry due to higher interest rates, HMIL has been able to emerge with very strong figures primarily because of a very dominant presence in the compact segment where both our offerings Santro and the i10 are becoming the segment leaders. The i10 has done phenomenally well, we have sold around 50,000 units in the first 5 months of the CY 2008.”
Hyundai is the second largest car manufacturer in India after Maruti Suzuki and is wholly owned subsidiary of Hyundai Motor Co, South Korea. It has already made India as its manufacturing and exports hub for small cars. It further plans to capture larger market segment of the auto industry in India. It shall also be updating its i10 model with a brand new engine in next two months but they did not mention if the car price would go up or not after the upgrading the existing model.
