Hyundai Motor India Sees Decline In Domestic Sales, Exports Continue To Grow

Wholesale sales by Hyundai Motor India Ltd. declined in April, led by weakness in the domestic market, even as exports continued to grow, according to an exchange filing by the company on Thursday. The Creta maker sold 60,774 cars in April, around 5% lower than the previous year.

The company dispatched 44,374 units to domestic dealers in April, marking a 12% on year drop. Reports indicate that it had sold around 50,200 units in India in the corresponding month last year, translating into a 12% on year fall this time. However, its exports remained strong, with 16,400 cars sold overseas, registering a 22% growth compared to the previous year.

In January-April, the company’s export volumes increased by 16%. "While the domestic market continues to face headwinds due to various macro-economic factors, we continue to champion 'Make in India, Made for the World,' emphasising the company’s strong focus on exports," said Tarun Garg, the company’s Whole-time Director and Chief Operating Officer.