Hyundai Faces Sales Dip but Banks on Festive Season Revival
Hyundai Motor India experienced a 7% drop in total sales in July, with domestic sales declining by over 10%. However, exports rose slightly to 16,100 units. The company remains hopeful for a turnaround with the festive season and plans to counteract declines with strong supply and new products.
- Country:
- India
Hyundai Motor India reported a 7% year-on-year drop in total sales for July, selling 60,073 units compared to 64,563 in the same month of the previous year. The automaker cited a slowdown in the automotive industry as a contributing factor.
The domestic market experienced a substantial decline, with vehicle dispatches to dealers dropping by over 10%—from 49,013 units last year to 43,973 units this July. Despite this, Hyundai witnessed a positive shift in exports, which rose to 16,100 units from the previous year's 15,550.
Tarun Garg, COO of Hyundai Motor India, expressed confidence in overcoming the current industry's softness, citing the upcoming festive season. The company is preparing to launch new products and ensure a robust supply, aiming for a turnaround in sales figures.
(With inputs from agencies.)
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