Hyundai India, the Indian arm of the Korean automaker Hyundai and the largest exporter of automobiles in India reported a decline of 7 percent in its total sales for the month of July 2013. The carmaker sold a total of 48,704 units in the month in comparison to 52,845 units sold in the same month in 2012.
The carmaker witnessed decline of 5.9 percent and 9.9 percent in the domestic sales and exports respectively. Sales in the domestic market stood at 25,965 units in July 2013 in comparison to 27,585 units sold in July 2012. The exports of the company fell from 25,260 units in July 2012 to 22,739 units in July 2013.
The decline in sales is attributed to the planned periodic annual maintenance shutdown at its production facilities undertaken in the month of July 2013.
Mr. Rakesh Srivastava Senior Vice President (Sales and Marketing) Hyundai India stated that the market sentiments are at a low despite attractive consumer promotion. He added that frequent price hikes and the depreciating rupee have further created challenges for the automaker.