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Hyundai has reported a fall of 54% decline in passenger vehicle sales

On Wednesday, Hyundai motor India limited declared a 54.39% reduction in terms of sale of total passenger vehicles sold. It reportedly sold 26,820 units in the month of June as against 58,807 units sold last year during the same month.

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The lockdowns imposed in order to contain the spread of the Coronavirus caused Covid-19 disease has had several devastating impacts on the economic situation of not only india but infected countries all over the world. This economic slowdown has in turn affected the demand and supply chains, posing hindrances to positive growth outlook.

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Hyundai – Sales in the domestic region dropped to 21,320 in comparison to 42,007 units sold in June last year while exports stood at 5,500 units from 16,800 units in 2019.

Tarun Garg, HMIL Director, said that the new launches like Spirited new Verna, Creta along with the strong products like Elite i20, Venue, Santro and Grand i10 will support the company in ensuring customer response and engagement.

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Hyundai – He also said that the firm is totally committed towards reviving the economy and achieving country’s sustainable development goals.

The total sales plunged 78.7% standing 12,583 units in the month of May in comparison to 59,102 units in May 2019 while domestic sales reported decline of 83.8%. The domestic sales stand at 6,883 in 2020 against 42,502 units in 2019, same period. The experts also dropped from 16,600 to 5,700 this year.

However, Indian automakers now are showing signs of slight normalcy as we step into the several phases of unlocking the economy.

 

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