Hyundai Motor India Ltd (HMIL), India’s second largest car manufacturer, sold 31,501 units in the domestic market, the highest sales figure since the company started operations in 1998.
The sales in March were 27.3 percent more than the sales registered in the corresponding month last year.
Hyundai, also the largest passenger car exporter, exported 23,534 units in March 2010 as against 21,405 units in March 2009, recording a growth of 9.9 percent.
With this, the company’s total sales for March stand at 55,035 units as against 46,159 units in the corresponding month last year, an increase of 19.2 percent.
The company sold the maximum units — 50,715 — in A2 segment which comprises Santro, i10, Getz and i20.
“As we close the financial year, it is reassuring to see the market retain its buoyancy which was triggered by the government’s timely announcement of the stimulus package and the consequent reduction in interest rates for car finance. These factors positively affected the market and kept demand high over the last year,” said Arvind Saxena, the company’s director for sales and marketing.
For the quarter ending January-March 2010, the car maker registered a growth of 33.5 percent in total sales at 162,273 units.
HMIL is a wholly owned subsidiary of South Korea’s Hyundai Motor Company.