HomeBUSINESS/ECONOMYGrowth pick-up: Hyundai sees sales uptrend to continue (IANS Special)

Growth pick-up: Hyundai sees sales uptrend to continue (IANS Special)

Automobile major Hyundai Motor India foresees a sustainable up-trend in demand on the back of accelerated economic recovery as well as opening of offices and other establishments.

Besides, the company expects the strong response to the ongoing vaccination programme is expected to drive the growth momentum into the first quarter of FY22.

In a conversation with IANS, HMIL’s Director Sales and Marketing Tarun Garg credited the healthy demand on faster economic recovery, opening up of offices, schools, colleges and the Covid triggered shift from public to personal transport.

“We are hopeful that sales momentum will continue in the near future,” Garg told IANS.

“However, the situation is dynamic. We are keeping a very close watch on the second wave of infections that is being reported from several states.”

Furthermore, he cited attractive interest rates and low automobile ownership in India as other major reasons for healthy sales pick-up.

Recently, the company reported sales growth for eighth consecutive month in Februaray.

Last month, the company’s overall sales grew by 26.4 per cent including exports to 61,800 units from 48,910 units sold during the corresponding period of last year.

Similarly, domestic sales edged higher by 29 per cent to 51,600 units from 40,010 units sold during the corresponding month of the previous year.

The company’s exports rose by 14.6 per cent to 10,200 units from 8,900 units shipped out during February 2020.

Even as sales’ prospect seem promising, Garg cautioned against an element of uncertainty surrounding the pandemic’s second phase of progression.

“We still don’t know how things will pan-out in the long run. The upside regarding the vaccine is playing out but now the downside regarding the second wave is also in the fray,” he explained.

On the fuel mix, he said that currently HMIL offers all types of powertrain options from entry to premium levels.

“We also have ‘Hydrogen Fuel Cell’ technology in Korea. We might go ahead with it (in India) as and when required,” he said.

“We will continue to focus on providing the maximum number of options across fuels, powertrains and price points to customers.”

In addition, he pointed out that the company is offering unique services, technologies and products to allow new and existing customers to upgrade.

“Our aim is to provide the best technology and widest number of choices at every price point for customers to upgrade,” he said.

(Rohit Vaid can be contacted at rohit.v@ians.in)

–IANS

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