Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter announced that the company sold a total of 35,003 units in the month of March 2014.
As compared to the 33,858 units of March 2013 this is a 3.4% increase in sales. This growth has been possible thanks to the new models like the Grand i10 and the upgraded Santa Fe in the company’s arsenal along with the 2014 Verna.
The exports figures though saw a decline of 26% where the company shipped just 16,705 units as compared to 22,579 units in the months of March 2014 and March 2013 respectively.
Hyundai is facing stiff competition from Honda in the mid-sized sedan segment where the Honda City has struck back and is continuously registering record-breaking sales figures displacing the Verna for the second spot for the last two months.
The newly launched Hyundai Xcent in the Compact Sedan segment is expected to be a game changer for Hyundai, thanks to it being priced competitively in comparison to its rivals Maruti’s Dzire and Honda’s Amaze. It also has some segment first features which should draw buyers from other manufacturers.
Hyundai officials credited the increase in domestic sales to the reduction in excise duties and strong sales in the compact car segment. Hyundai’s fluidic design has kept customers hooked since the day it was launched and the company hopes it will continue to keep the cash registers ringing.