Hyundai reports a decline in Y-o-Y sales by 10.1% for the month of April. However, its exports grew by 29.1% for the same period.
Hyundai India Motors limited, India’s second largest auto maker recently released their sales report for the month of April, 19. The Hyundai sales report reveals that the company has seen a decline of 10.1% in domestic sales from the corresponding month of last year.
Hyundai reported a sale of 42,005 units of cars in April, 19 as opposed to 46,735 units of cars sold in the same month, last year. However, Hyundai has seen a growth in exports at 29.1%.
They have sold 16,800 units as against 13,009 units sold in the corresponding month of last year. Still, Hyundai’s cumulative sales were down by 1.6% with them selling 58,805 units of cars as against 59,744 units of cars sold last year in the month of April.
It was not just Hyundai, but even Maruti Suzuki – India’s largest automaker – who reported a 17% drop in sales in the month of April. Other major brands like Tata, Mahindra and Toyota too witnessed a drop in sales from last year.
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The month of April has been rather difficult for most automakers due to several reasons. Various policy reforms like the onetime payment of insurance premium has led to the increase in on-road price of the vehicles, thus affecting sales. Manufacturers have also reported about rising commodity prices as a reason for increase in price of the vehicles.
With the enforcement of stricter safety and emission norms, manufacturers are having to update their cars with essential features like ABS and airbags and more efficient engines which naturally increases the prices of the cars. It also affects the entry level cars which constitutes the major bulk of the cars sold. Higher prices are naturally resulting in lower sales volume.
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Having said that, the manufacturer is all slated to launch the all-new Venue sub-compact SUV later this month. Considering the segment the Venue sits in of sub-compact SUVs, it is expected to sell like hot cakes.
The Hyundai Venue has already great responses after it was revealed last month and if Hyundai gets it’s pricing right, the Venue could very well bring up the sales volume for Hyundai.
