Hyundai Motor India has posted an increase of 21.6 percent in its total sales for the month of October 2012 selling 58,785 units in comparison to 48,322 units sold in October 2011. The second largest carmaker in India witnessed an 8.4 percent rise in domestic sales at 35,778 units against 33,001 units sold in October 2011.
The South Korean automaker’s exports from India grew from 15,321 units in October 2011 to 23,007 units in October 2012, a growth of 50.16 percent. The company attributes the increase in overall sales to the ongoing festival season which has seen resurgence in the sales of petrol car models.
There was a strong demand for the small car Eon and the mid-size sedan Elantra in October 2012, stated Mr. Rakesh Srivastava Vice-President (National Sales) Hyundai Motor India. He added that factors such as inflation, high fuel prices and high interest rates have dissuaded the customers from making new car purchases and it would be a tough challenge to convert customer interest into a sale in the coming months.