India Business
Hyundai India registers growth, car sales zoom
May 2, 2007 - 9:01:12 PM

New Delhi, May 2 - Automaker Hyundai Motor India Ltd - has posted a growth of 4.8 percent in the Indian market by selling 15,728 units in April, the company said Wednesday.

HMIL - the Indian unit of South Korean automaker Hyundai - registered 4.6 percent growth in the export markets with the sale of 11,341 units, selling a total of 27,069 units during the month.

'With the increase in the interest rate there could have been a slump in demand but we introduced a special scheme of 8.99 percent interest to serve our customers better,' Arvind Saxena, vice president, marketing and sales, HMIL, said in a statement here.

'This obviously has helped us in keeping the momentum going and consolidate our position as the second largest passenger car manufacturer in India.'

Last month, HMIL launched Getz Prime in the small car segment eyeing the European market, as plans to develop India its major export hub of compact cars.

The company is also building its second plant near Chennai, which will produce an additional 300,000 units per annum, raising HMIL's total production capacity to 600,000 units a year by the end of 2007.

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