Hyundai April car sales marginally up

Posted By: Religare
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Hyundai April car sales marginally up
Hyundai Motor India India (HMI) today reported a marginal jump of 38 units in total car sales for April, the value stood at 52,058 units as against 52,020 units in the same month last year. The company performance was attributed to a decline in exports which countered higher domestic sales.

A further breakup of the total sales revealed that the domestic sales stood at 31,636 units, a jump of 11 percent from 28,501 units in the year ago period. In addition the exports dropped (13 percent) from 23,519 units in April 2010 to 20,422 units in April this year.

Segment wise analysis shows that the sales of the company's A2 segment (comprising Santro, i10 and i20) witnessed sales of 46,779 units. A3 segment sales (consisting of Accent and Verna) saw sales of 5,227 units. Also the A5 segment saw 20 units being sold.

On the performance the firm"s Director, Marketing and Sales, Arvind Saxena blamed the rising interest rates for the results. In addition he added the conversion rate (from enquiry to purchase) too has slowed down. Furthermore, he added the trend might continue in the coming months.

However, on a global front, the Seoul based paternal company (Hyundai Motors Co.) which is the world"s fifth largest car maker posted a sturdy 47 per cent growth in net profit for Q1.

Read more about: auto, hyundai
Story first published: Tuesday, May 3, 2011, 9:30 [IST]
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