Hyundai records 20% growth in domestic sales in August; exports decline

The country's largest automaker Hyundai Motor India on Tuesday reported a 20 per cent year-on-year growth in domestic sales at 45,809 units in August. The South Korean company had sold a total of 38,205 units in the same month last year. Hyundai's exports declined by 61.8 per cent in August at 6,800 units compared to 17,800 units exported in August 2019. Cumulatively, Hyundai Motor sold 52,609 units in the month compared to 56,005 units sold in August 2019, recording a 6 per cent decline in sales for the month.

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The company said its new models raked in maximum sales, Creta, Verna, Tucson doing maximum business. "Good response to the all-new Creta, Verna, Tucson, Nios, Aura and the recently launched IMT Powertrain Hyundai Venue led to this performance," said Tarun Garg, Director ( sales, marketing and service), HMIL.

He added uncertainty still surrounds the COVID-19 pandemic and that the company would have to work with cautious optimism.

Also read: Mahindra & Mahindra auto sales decline 16% YoY in August, tractor sales up 65%

The South Korean auto major, which is the second-largest passenger vehicle player in the country after Maruti Suzuki, has seen its sales grow month after month since May after the nationwide lockdown ended and companies rebooted operations. From zero units in April to sales of 6,883 units in May, 21,320 units in June and 38,200 units in July, the automaker has seen sales grow in a robust manner over the past few months.

Meanwhile, India's largest carmaker Maruti Suzuki India Ltd has also reported a 21.3 per cent growth in sales in August 2020 over the previous year, signalling the rebound in demand in the domestic automobile industry is gaining momentum. The company sold 113,033 units against 93,173 units in August 2019.

Also read: Maruti sees 21.3% growth in August, wholesale dispatches cross 1 lakh for first time since February