Hyundai Motor India announced on Saturday that its total vehicle dispatches saw a decline of 3% year-on-year, reporting 58,727 units sold in February compared to 60,501 units in the same month last year.
Domestic Sales Face Downturn
In the domestic market, Hyundai dispatched 47,727 vehicles to dealers in February, marking a 5% decrease from the 50,201 units sold during February 2024. Despite the decline, the automaker remains optimistic about a market recovery, encouraged by potential policy improvements outlined in the Union Budget 2025.Export Growth Offers Respite
Contrary to domestic performance, Hyundai's export sales showed positive momentum, rising from 10,300 units in February last year to 11,000 units this year. The company emphasized that enhancing exports remains a strategic priority, further solidifying India's position as a pivotal export hub for Hyundai globally.CEO Remains Positive on Future Prospects
Tarun Garg, Whole-time Director and CEO of Hyundai Motor India, attributed the domestic market challenges partly to geopolitical factors. However, Garg expressed optimism regarding future growth, highlighting anticipated demand boosts from proposed tax reforms and enhanced liquidity conditions as outlined in the Union Budget 2025.Hyundai aims to balance domestic and international market dynamics strategically, leveraging export growth to offset domestic market volatility.
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