Car Sales Report For March 2020: Hyundai India registers A 41% Decline In Sales
Hyundai Motors India has released its sales figures for the month of March 2020. The South Korean car manufacturer in India registered sales of 32,279 units; out of which 26,300 units came from the domestic market. The remaining 5,979 units were exported to other countries.
The sales performance of Hyundai in the domestic market registered a massive decline on a year-on-year comparison. The carmaker registered a decline of just a little over 40% in the month of March from 44,350 units in 2019 to 26,300 units this year.
However, the FY 2019-20 has been a relatively positive year for Hyundai in India. Although the company did register an 11% decline in FY sales, it did manage to improve its market share in the country. This increase can mainly be attributed to the success of the Venue compact-SUV in the Indian market. The all-new Hyundai Venue is the first compact-SUV offering from the brand and received an overwhelming response in the market.
The company expected to continue the positive trend in India, with the launch of their all-new Creta SUV earlier this year. However, with the coronavirus pandemic affecting the entire world, sales have fallen drastically since the second-half of March 2020. We expect the market situation to remain pretty much the same going into April as well. The government of India has put the entire country under lockdown. Automobile companies including Hyundai have temporarily shut down operations in the country.
Hyundai has a lot of plans for the Indian market, the company has updated a number of models over the past year. This includes the introduction of the third-generation i10 Grand (NIOS), the Aura compact-sedan, Venue SUV and the new Creta. All models have been introduced to bring in mass volume sales for the brand. Apart from these, Hyundai is also working on introducing its next-generation i20 Elite in the Indian market as well. The new Hyundai i20 Elite is scheduled to go on sale in the country later this year.