Hyundai Motor India Ltd., the country’s largest passenger car exporter, has recorded a 4.71 per cent drop in its total sales during March 2013. As per reports, the company managed to sell just 56,437 units last month, as compared to 59,229 units sold in the year-ago period. In exports business, the South Korean car maker continued to lead the segment with 22,579 units shipped overseas in the month of March, 2013. This figure translates into a surge of 12.3 per cent over the corresponding period of 2012.
At the same time, the domestic sales of the country's second largest car manufacturer stood at 33,858 units, which is a slump of 13.5 per cent against 39, 212 units sold in March 2012. In the month of March this year, Hyundai’s A2 segment models, comprising Santro, Eon and i10 garnered a volume of 47, 678 units. Further, the company’s A3 segment product range that includes Accent and Verna sedans, witnessed a sales volume of 8.143 units. In the same period, Hyundai recorded sales of its Elantra and Sonata sedans at 546 and 20 units, respectively, while the Santa Fe model found 50 buyers.
Worried yet confident, Rakesh Srivastava, Vice President, Sales and Marketing, HMIL, quoted, “The slowdown of economy is impacting vehicle sales. Against large base of last year there was a sharp drop in conversion of enquiries in the absence of any positive stimulus and sentiments. We foresee the pressure on volumes to continue till there is significant improvement in macro-economic factors. In the last quarter, Hyundai gained in market share with its strong performance and marketing initiatives as during slow down customers prefer products with higher quality, assurance and aspiration.”
However, it is noteworthy here that the South Korean car manufacturer recorded a boost of 5.42 per cent in its total sales during February, 2013. The domestic sales of the company was down by 7.62 per cent and exports were up by 37.30 per cent in the month of February. Considering the bumpy ride that the company has been on in last two months, it will be interesting to see how the car maker fares in the next quarter.