Exports register healthy 27.8% growth reaches 20,125 units
Domestic see marginal dip of 4.1%
New Delhi, June 1, 2009: Riding high on the incentives provided by the government’s in different countries of the European Union, Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter saw a healthy growth of 27.8% in its exports for the month of May, 2009. The European Union led by major automotive markets like Germany, France, UK and Italy who had recently introduced incentives like the ‘scrappage incentive’ to induce sales in a sagging market resulted in a positive sales scenario for HMIL as it benefited mostly from its exports to Europe which continues to grow despite a slowdown in the sector.
HMIL’s total sales for May, 2009 stood at 43,628 units against 40,261 units in May, 2008. The domestic sales it accounted for 23,503 units as against 24,510 units last May while it was the overseas sales which grew from 15,751 units in May 2008 to 20,125 units in May 2009.
Commenting on May, 2009 sales Arvind Saxena, Sr. Vice President - Marketing and Sales, HMIL said, “Our cumulative sales growth is driven by the demand for our cars from the overseas market. EU countries had taken the initiative of reviving auto sales by introducing various incentives like the scrappage incentive which clearly demonstrates that incentives do work in revving markets and as the demand for our cars grew in the EU market we were forced to adjust our domestic production to address the needs of this unique market opportunity.”
The segment-wise cumulative sales in the month of May, 2009 are as follows: A2 Segment (Santro, i10, Getz & i20) 39,864 units; A3 Segment (Accent & Verna) 3735 units; units, A5 Segment (Sonata Transform) 27 units; and SUV Segment (Tucson) 2 unit.
Domestic see marginal dip of 4.1%
New Delhi, June 1, 2009: Riding high on the incentives provided by the government’s in different countries of the European Union, Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter saw a healthy growth of 27.8% in its exports for the month of May, 2009. The European Union led by major automotive markets like Germany, France, UK and Italy who had recently introduced incentives like the ‘scrappage incentive’ to induce sales in a sagging market resulted in a positive sales scenario for HMIL as it benefited mostly from its exports to Europe which continues to grow despite a slowdown in the sector.
HMIL’s total sales for May, 2009 stood at 43,628 units against 40,261 units in May, 2008. The domestic sales it accounted for 23,503 units as against 24,510 units last May while it was the overseas sales which grew from 15,751 units in May 2008 to 20,125 units in May 2009.
Commenting on May, 2009 sales Arvind Saxena, Sr. Vice President - Marketing and Sales, HMIL said, “Our cumulative sales growth is driven by the demand for our cars from the overseas market. EU countries had taken the initiative of reviving auto sales by introducing various incentives like the scrappage incentive which clearly demonstrates that incentives do work in revving markets and as the demand for our cars grew in the EU market we were forced to adjust our domestic production to address the needs of this unique market opportunity.”
The segment-wise cumulative sales in the month of May, 2009 are as follows: A2 Segment (Santro, i10, Getz & i20) 39,864 units; A3 Segment (Accent & Verna) 3735 units; units, A5 Segment (Sonata Transform) 27 units; and SUV Segment (Tucson) 2 unit.
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