Hyundai Reports 10 Per Cent Sales Decline in February

Hyundai Motor India Ltd (HMIL) on Sunday reported a 10.Three % decline in complete gross sales at 48,910 items in February. The firm had offered 54,518 items in the identical month final 12 months, HMIL stated in a press release. Domestic gross sales have been down 7.2 % to 40,010 items as in opposition to 43,110items in February 2019, it added. The firm’s exports declined 22 % to eight,900 items as in contrast with 11,408 items a 12 months in the past.

Hyundai Motor India reported a marginal improve in home gross sales at 45,803 items in January. It had offered 45,508 items within the year-ago interval. Toyota Kirloskar Motor (TKM) nevertheless reported a 9.14 % dip in home gross sales final month when it offered 11,221 items as in contrast with 12,351 items in January 2018.

“With the closure of special offers/year-end schemes, the buying sentiment has witnessed a dip this month. The tightening of vehicle financing availability has also added to the challenges in the market,” TKM Deputy Managing Director N Raja stated. Niche bike maker Royal Enfield reported a 7 % dip in home gross sales at 70,872 items final month. It had dispatched 76,205 items in January 2018.