After a year of sluggish sales in the Indian automobile industry, the country’s second largest manufacturer Hyundai Motor India is expecting a marginal increase in its sales figures in 2012 compared to its sales in 2011. It expects to boost its sales with new launches, the Sonata sedan which is set to hit the Indian market in the month of March 2012 and the Elantra sedan in the second half of 2012. Both sedans will feature the company’s global ‘fluidic design’.
According to Mr. Arvind Saxena Director (Sales & Marketing) Hyundai Motor India, the company has witnessed improvement in sales in the months of January 2012 and February 2012. He added however that the year 2012 can’t be judged from the sales figures in these two months and cited the example of the slowdown in the second half of 2011.
Mr. Saxena stated that in order to revive the Indian automobile industry, there is a need for a reduction in the interest rates which have been a significant contributor in the sales slowdown in 2011.