Hyundai Motor India reports 1.23% decline in January sales

Hyundai Motor India Ltd (HMIL) on Monday reported 1.23% dip in total sales at 44,230 units in January. The company had sold 44,783 units in the same month last year, HMIL said in a statement.

In the domestic market, the company's sales were up 9.3% to 38,016 units last month as compared with 34,780 units in January 2015. 

However, the company's exports declined by 37.87% to 6,214 units as against 10,003 units.

HMIL's Senior Vice-President (Sales and Marketing) Rakesh Srivastava said the company has started the year on a positive note registering the domestic volume of 38,016 units with a growth of 9.3% over last year.

"The growth momentum (in the domestic market) of last year has continued on the back of strong performance of products like Grand, Creta and i20 Elite/Active," he added.

On the upcoming Auto Expo 2016, Srivastava said, "We look forward to presenting the Hyundai experience at the Auto Expo through our products and technology towards meeting the growing aspirations of the customers."  

Globally, Hyundai's sales in January fell 13% to 3,38,035 units, down for the first time in six months. The company said that sales were dragged down by dwindling demand from China, Brazil and Russia. In 2015, the company posted its lowest annual profit for the first time in five years, bogged down by a slowdown in China, Hyundai's largest market in terms of sales volume.