Business IdeasHyundai's October sales up 11%
The country"s second largest carmaker, Hyundai Motor India, today reported 11.03 per cent growth in sales in October compared to the same period a year earlier, at 51,736 units.
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Domestic sales for the month stood at 28,301 units against 20,009 units, up 41.44 per cent, Hyundai Motor India (HMIL) said in a statement.
"The festive period of the last two months generated strong sales and has given the Indian automobile industry some respite from the sluggish performance of the last few months," HMIL Senior Vice-President (Marketing and Sales) Arvind Saxena said.
Strong sales are likely to propel the industry into a positive double-digit growth for the remaining part of the year, he added.
"This might be the turning point the Indian automotive industry has been waiting for," Saxena said.
Exports of the company, however, dipped 11.86 per cent to 23,435 units from 26,587 units in the year-ago period, it added. In its A2 segment (Santro, i10, i20 and Getz Prime), the company sold 47,407 units, while in the A3 segment (Accent and Verna) sales were at 4,285 units. The A5 segment (Sonata Transform) of HMIL witnessed sales of 44 units, while its SUV Tucson Received no taker during the month.