New Delhi: Hyundai Motor India Ltd (HMIL), the country's second largest car manufacturer and the largest passenger car exporter, today announced an impressive 51.1 per cent growth in cumulative sales for the month of May 2008.
HMIL's total sales for May weret 40,261 units, with the domestic market sales accounting for 24,510 units compared to 16,643 units sold in May 2007, an increase of 47.3 per cent yrar-on-year. The company sales from exports in May 2008 increased by a whopping 57.4 per cent compared to the previous year's sales, which was at 10,005 units.
Commenting on HMIL's impressive performance, Arvind Saxena, senior 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, with the company having sold around 50,000 units in the first five months of 2008.''
HMI is present across in most segments, in addition to the growth witnessed in the compact segment, the growth in the mid-size segment sales have grown over 17 per cent 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 per cent 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 (Elantra): 41units; and SUV segment (Tucson): 4 units.