Mumbai: The Indian unit of South Korea’s Hyundai Motor Co., said on Wednesday its March car sales in India fell 15.8% from year earlier, as a slowing economy hit consumer spending.
It sold 24,754 cars in India during the month, down from 29,401 sold last year.
Exports in March rose to 21,406 units, up 21.6% from year ago, the company said in a statement.
“The industry is far from seeing a turnaround at this moment,” Arvind Saxena, senior vice president for marketing and sales at Hyundai Motor India Ltd, said in a statement.
Though March domestic sales were higher by nearly 17% from February, the combined sales of February and March this year rose only 4.5% from year ago, he said.