BackHyundai’s domestic sales jump nearly 24% in October
Hyundai sold a record 47,015 vehicles in the Indian market in October, 23.7% more than what it sold last October
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Mumbai: Hyundai Motor India Ltd, India’s second largest car maker by sales, on Monday said it sold a record 47,015 vehicles in the Indian market in October, 23.7% more than what it sold last October. The company attributed the performance to new models such as the Creta and aggressive sales promotion.
During the month, Hyundai offered discounts and benefits of up to ₹ 1 lakh across its models with the exception of the Creta SUV and i20 range.
Exports at the local arm of the Korean car maker continued the declining trend of the last few months, dropping 18% to 18,009 units. Hyundai, which used to be the largest exporter of cars till 2013-14, lost its pole position to Nissan Motor India Pvt. Ltd last fiscal. It’s now the number two in the pecking order.
Even as the local arm of South Korea’s Hyundai Motor has seen its sales advance at a fast clip on the back of new models that have been received well, it has a lot of catching up to do with market leader Maruti Suzuki India Ltd which has widened its lead in the competitive car market. In October, Maruti sold 121,063 units in the domestic market.
The Korean auto maker is also set to face some competition from its Japanese peer on the exports front. Maruti has said it will export its new Baleno to 100 countries.
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