Hyundai Motor India Ltd (HMIL) sales up by 11.58%

Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter, registered cumulative growth of 11.58 % for the month of August 2013. The domestic sales accounted for 28,311 units compared to 28,257 units for the same month last year. Exports accounted for 24,008 units in August 2013 as compared to 18, 629 units for the same month last year.

Commenting on the sales, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing, HMIL said, “The exports have shown decent growth on account of strong demand from non-European markets while the domestic market continues to witness pressure. The overall market is suppressed due to various macro-economic factors. The frequent and steep increase in fuel prices continues to impact the already low market sentiments. We expect the challenge to continue in the coming months as well until there is a significant change in macro-economic policies.”