Hyundai Is No Longer Safe; Sales Tumble 1.5%

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3 Nov 2010
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Hyundai Motors India, the country's second largest carmaker appears to be following its closest competitor Maruti Suzuki in terms of sales. Hyundai's July sales fell by 1.48 per cent to 49.667 units. The recently launched Fluidic Verna failed to prop up the fortunes of the Korean carmaker.

Hyundai motors had sold 50,411 cars during June 2010. Hyundai's domestic sales saw a decrease of 11 per cent to 25,642 units from 28,811 units in June 2010. Exports on the other hand rose by 11.23 per cent to 24,025 units from 21,600 units. Hyundai is emerging to be a more export oriented carmaker with domestic sales coming closer to exports.

In its statement Hyundai Director (Marketing and Sales) Arvind Saxena said : “The July, 2011, sales for both the industry and as well as Hyundai Motor India Ltd had been negative. Though the customer enquiries have increased, due to the increase in fuel price and interest rates, conversion rate has slowed down.”

As far as the model wise break p of sales is concerned, Hyundai sold 41,533 units of the i10 and i20 hatchbacks. in the A3 segment the Korean carmaker sold 7,980 units of the Accent and Verna. Hyundai's flagship sedan Sonata Transform managed to sell just 13 units while the new Santa Fe SUV posted 141 sales.

The new Fluidic Verna sedan was launched with much fanfare has not been able to meet expectations. Al;though the car was received well by the media and the customers sales in July did not match the bookings registered during its launch.

Hyundai Motors India was also affected by the slow car market as much as any Indian carmaker. But it was more severely affected as its best selling model i10 hatchback does not come with a diesel engine. Hyundai has said it intends to launch a new budget small car that will focus on the rural market.
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