Sunday, May 04, 2008

Hyundai: Rapidly conquering Indian auto market

India’s second largest motor car manufacturer, Hyundai Motor India Ltd (HMIL) experienced a cumulative growth of 47.8% in its car sales last month. The total sales of the April stood at 40,001 units including 21,501 domestic sales and exporting 18,500 units export. Last year, at the same time the cumulative sales growth was 27,069 units. Infibeam reports:

Commenting on the sales, Arvind Saxena, Sr VP, Marketing & Sales, HMIL said, “HMIL sales for April had been robust with a very healthy growth and we feel that the budget has been a contributory factor. The i10 too has done exceedingly well to establish itself as a major player in this segment with domestic sales alone accounting for over 50,000 units in just six months which is the fastest ever for any model and with the highest growth rate in this segment things are looking good for HMIL”.

Overall, in the first quarter of 2008, HMIL sold 106,995 cumulative units. HMIL also opened its 13th store in Bangalore this month. This makes the company’s number of dealership 54 in the southern region. The latest showroom is built over 55,000 square feet which makes it one of the biggest “3S facility” (sales, service, spares).

Hyundai Motor India Limited (HMIL) is a subsidiary of Hyundai Motor Company (SEO:005380) of South Korea. It is one of the top car manufacturers in India. Currently, the company is offering 30 different types of passenger carrying vehicles in the market. In India the company has 230 outlets which will increase to 300 by the end of 2008.

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Economic Times