Hyundai 2014-15 sales up 10.62 percent

Automobile major Hyundai Motor India Wednesday reported a 10.62 percent rise in its total sales for 2014-15, which stood at 420,668 units from 380,253 units sold in the previous fiscal.

"In a market with weak sentiments, Hyundai achieved its highest-ever single month sales of 39,525 units with highest-ever financial year sales of 420,668 units," said Rakesh Srivastava, senior vice president, sales and marketing, Hyundai Motor India.

"The market share of 16.3 percent was highest-ever with strong performance of successful launch of new models like Elite, i20 Active, Xcent and Verna and lead by strong marketing initiatives to engage rural markets and repeat buyers," Srivastava said.

However, for the month of March, the company's total sales decreased by 3.8 percent at 49,740 units from 51,708 units sold in the corresponding month of 2014.

Domestic sales in the month under review increased by 12.9 percent at 39,525 units from an off-take of 35,003 units reported in March 2014.

The exports during last month, however, plunged by 38.9 percent at 10,215 units from 16,705 units shipped out during corresponding month of last year.

According to the company, 2015 outlook seems challenging due to low traction in the market with weak delivery on macro-economic parameters and on customer's sentiments.

"We are hopeful that an environment will be created to bring in investment and create employment that will give the required thrust to grow the industry," Srivastava added.