Home ECONOMY Hyundai Motor’s February sales up 2.4 percent

Hyundai Motor’s February sales up 2.4 percent

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Chennai, March 2:

Automobile manufacturer Hyundai Motor India (HMIL) on Monday reported a sales growth of 2.4 percent at 47,612 units during February 2015 from an off-take of 46,505 units sold in the like period of last year.

HyundaiAccording to the company, its domestic sales during the month under review grew by 9.7 percent at 37,305 units from 34,005 units sold during the corresponding period of 2014.

However, the company’s exports during last month plunged by 17.5 percent at 10,307 units sold abroad from 12,500 units shipped-out during February 2014.

“Hyundai volumes of 37,305 units registered a growth of 9.7 percent over last year on the strength of strong performance of Elite i20 with 10,264 units. The growth in additional and repeat buyers is higher than that of first time buyers,” said Rakesh Srivastava, senior vice president-sales and marketing, HMIL.

“Reduction in interest rates could bring in the thrust to break the threshold of low growth and initiate the double digit growth.” IANS

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