By IANS,
Chennai : Hyundai Motor India Ltd (HMIL), the country’s second largest carmaker, Monday announced a whopping 51.1 percent growth in its cumulative sales for May 2008, compared to May 2007.
Hyundai’s total sales in May stood at 40,261 units (domestic 24,510 and exports 15,751) against the sales of 26,648 units (domestic 16,643 and exports 10,005) in the year-ago period.
Reviewing the performance, Hyundai senior vice-president (marketing and Sales) Arvind Saxena said: “In spite of slowdown in the industry due to higher interest rates, Hyundai has been able to emerge with very strong figures primarily because of a very dominant presence in the compact segment where both our offerings Santro and the i10 are becoming the segment leaders.”
“The i10 has done phenomenally well, selling around 50,000 units in the first five months of the calendar year 2008,” he added.
Hyundai also registered 17 percent growth in the mid-sized car segment selling 3,209 units this May against 2,739 units in May 2007.