Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter, today announced a cumulative sales growth of 28.2% for the month of July, 2008.

HMIL’s total sales for the month of July ‘08 stood at 36,152 units. While the domestic market accounted for 15, 066 units, exports totaled 21,086 units in July, 2008. The cumulative sales for July, 2007 had been 28,204 units with the domestic sales at 15,003 units and exports 13,201 units. As compared to July 2007 the domestic sales grew by 0.4% in July 2008 while as exports grew 59.7 % and the cumulative growth is 28.2%.

Commenting on the sales, Arvind Saxena, Sr VP, Marketing & Sales, HMIL said, “It has been a challenging month for the entire industry with the combined effects of increase in interest rates, hike in fuel prices and inflationary pressures affecting market sentiments.

 But riding on its strong product portfolio, HMIL has still managed to maintain even sales in the domestic market and our exports continue to grow at fast pace. Overall the cumulative figures are positive for HMIL but a host of negative factors have created a situation in the market where the industry is certainly going to face a slow down in demand should the situation continue for long”.

The segment-wise cumulative sales in the month of July, 2008 are as follows: A2 Segment (Santro. I10, Getz Prime) 30,614 units; A3 Segment (Accent, Verna) 5,504 units; A4 Segment (Elantra) 1 units; A5 Segment ( Sonata Embera)  28 units; and SUV Segment (Tucson) 5 units.

Sourced From: IPAN