Hyundai registers a strong 51.1% growth in May

Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter, today announced a whopping 51.1% growth in cumulative sales for the month of May, 2008.

HMIL’s total sales for the month of May ‘08 stood at 40,261 units. While the domestic market accounted for 24,510 units, exports registered sales of 15,751 units in May, 2008. Compared to May 2008, the cumulative sales for May, 2007 had been 26,648 units with the domestic sales at 16,643 units and exports had totalled 10,005 units. This translates into a growth of 47.3% in the domestic market and 57.4% increase in overseas sales. The cumulative sales for the month of May, 2008 as compared to May, 2007 has grown by a whopping 51.1%.

Commenting on HMIL’s May, 2008 performance, Arvind Saxena, Sr. Vice President, Marketing & Sales said, “In spite of slowdown in the industry due to higher interest rates, HMIL has been able to emerge with very strong figures primarily because of a very dominant presence in the compact segment where both our offerings Santro and the i10 are becoming the segment leaders. The i10 has done phenomenally well, we have sold around 50,000 units in the first 5 months of the CY 2008.”

HMI is present across the segments, in addition to the growth witnessed in the compact segment, the growth in the mid-size segment sales have grown over 17 % in May, 2008 compared to the same month last year. The sales for the month are 3,209 units compared to 2,739 units in May ‘07. Comparing the sales for May and April, 2008, the growth in the mid-size segment has been over 20% with April ’08 sales standing at 2,668 units.

The segment-wise cumulative sales in the month of May, 2008 are as follows: A2 Segment (Santro, i10 & Getz): 34,328 units; A3 Segment (Accent & Verna): 5,874 units; A4 Segment (Elantra):14 units, A5 Segment (Sonata Embera): 41units; and SUV Segment (Tucson): 4 units.