The pandemic has pushed the world to follow new social distancing norms. This, combined with the disrupted public transport, has lead to the emergence of personal transport as a safe, easy, and hassle-free way of commuting. The automobile sector was already facing a slump after its transition towards the BS6 transmission norms. However, the increase in demand for personal transport, combined with the festive joy, has helped the automobile sector enjoy the increased demand.
Benefiting from this demand, Hyundai Motors India has reported the highest domestic sales of 56,605 Units for October 2020. It is a 13.2 percent growth in its domestic sales compared to 50,010 units sold during October 2019. In case you are wondering, Hyundai’s previous highest monthly domestic sales number was achieved in the month of October 2018 with 52,001 units.
Hyundai Motors India has not revealed variant-wise sales for each model. However, with the rise in popularity of the SUVs in India, it is expected that a major part of the entire sales record would be accountable to Hyundai’s popular SUV- Creta. We also expect the Hyundai Venue to be a major contributor to the sales, being a popular choice among the compact SUV buyers in India.
|Hyundai Motors Sales||Oct-19||Oct-20||Growth %|
While the carmaker has recorded its highest domestic sales ever, the export has fallen by negative 10.1 percent compared to the previous year. The exports of Hyundai for October 2020 have been recorded at 12,230 units. However, due to good domestic sales, the carmaker’s cumulative sales for the month of October 2020, stood at 68,835 units, which is close to 8.2 percent higher on a year-on-year basis.
Commenting on the October sales performance, Mr Tarun Garg, Director (Sales, Marketing & Service), HMIL said, “With the advent of the festive season, Hyundai shares the spirit of happiness and celebration with our customers through our Super Performer Brands – all-new Creta, Verna, Venue, Aura, and Nios, achieving landmark sales of 56,605 units in the month of October 2020 with a growth of 13.2% over Oct 2019. The October month sales performance has set a positive tone for an overall business environment and we are confident that Hyundai will continue to strongly contribute towards sustainable growth of the economy, community, and all its stakeholders.