Hyundai India witnessed a 2.3 per cent increase in its market share
With the recent success of Xcent and superb response of Elite i20, Hyundai Motor India Ltd (HMIL) witnessed a rise of 2.3 per cent in the Indian auto sector from a time period of April-July 2014. In June 2014, the manufacturer posted a growth of 9.5 per cent while for the month of July, the company witnessed growth of 12.7 per cent. Last month, Hyundai’s domestic sales were 29,260 units while the carmaker shipped 18,750 units making the cumulative sales at 48,010 units.
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Hyundai Motor India Ltd (HMIL) Senior Vice President (Sales & Marketing) Rakesh Srivastava said, “This year our target for sales in domestic market is 4.10 lakh units. Last year we had sold 3.8 lakh units in the domestic market." He further added, "In the last financial year, we had a market share of 20.7 per cent. This year it went up by 2.3 per cent to 23 per cent in the April-July period."
Right now the company’s manufacturing facility has a capacity to produce 6.4 lakh units per annum which can be further increased to 6.8 lakh units. Mr Srivastava also said, last three months have seen improvement in customer sentiment which resulted in better sales. He also said last year, the company exported 2.53 lakh units of the total 6.33 lakh units.
Hyundai recently launched the upgraded Elite i20 which replaces the previous i20. Pitched in the premium hatch segment, the car lock horns with market leader Maruti Suzuki Swift, Volkswagen Polo and Fiat Punto.
Mr Srivastava on the sales of Elite i20 said, "We were selling around 3,800 units of existing i20 per month and now with the new version we would be happy if we are able to sell around 6,000 units per month." HMIL Managing Director & CEO B S Seo said,"We remain committed to the Indian market. The all new Elite i20 would help further enhance the company's market share in India."
Source: PTI
