Hyundai Motor stands out in India car market

Aug 18, 2015, 09:12 am

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Leading Indian newspaper says, "Last year's bad performance is due to discounts." Hyundai Motor's Creta and i20 are popular despite no discounts
A Hyundai Motor India's dealer in Delhi celebrates India's Independence Day as a part of its 'patriotic marketing' strategy./ Photographed by Ha Man-joo

By Ha Man-joo, India correspondent, AsiaToday - Although it is too early to be optimistic about car sales growth in India, Hyundai Motor India is showing impressive growth.

India's leading business newspaper, Business Standard, reported on Monday, "The double-digit growth rates clocked by Hyundai and more in monthly sales might give an impression that car buyers are returning to showrooms. However, extensive interactions with carmakers and dealers suggest it might be too early to celebrate."

Business Standard stated that sales growth seen this year is mainly on account of last year's low base. It said, "On a sequential basis, volumes remained stagnant in the April-June period. July closed a tad higher, driven by Hyundai Creta."

In fact, India's domestic car sales rose 17.47 percent during the last month from the year-ago period thanks to the growth of carmakers including Hyundai Motor, according to the Society of Indian Automobile Manufacturers or SIAM.

Hyundai Motor India saw its domestic sales growing by 24.7 percent at 36,500 units in July as compared with July 2014. It had sold 33,514 units in July 2013. "We are seeing growth in wholesale. Sales growth is being led either by new products or a few well-established models," says Rakesh Srivastava, senior vice-president (sales & marketing), Hyundai Motor India.

#Hyundai Motor #Creta #i20 #India 
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