Hyundai ends 2008 with 49.6% cumulative growth over 2007

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New Delhi: Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter, registered an overall 55.7% growth for the month of December, 2008. The domestic sales grew by 19.3% and exports saw a healthy jump of 96.8% over the current month last year.

HMIL’s total sales for December 2008 stood at 38,402 units. The domestic market accounted for 15,602 units, compared to 13,078 units for the same month last year while the exports totaled 22,800 units in December ‘08, against 11,586 units of December ‘07.

Commenting on HMIL’s 2008 performance Arvind Saxena, Sr. Vice President - Marketing and Sales, HMIL said, “Since the last quarter of 2008 the market situation has become extremely challenging. We at HMIL have fared better as we have a strong line up of products in the compact segment which has kept our sales steady. A combination of factors like innovative schemes, established products and a large network is what has helped Hyundai in these difficult times.”

HMIL registered a 49.6% overall growth for the year ending December, 2008 as compared to calendar year 2007. The cumulative sales for 2008 stood at 489,328 units with the domestic markets accounting for 245,397 units which is a growth of 22.4 % over calendar year 2007’s 200,421 units. In the overseas HMIL grew by a healthy 92.5%. The 2008 exports stood at 243,931 units against 126,749 units for 2007. HMIL accounts for around 78% of the total exports for passenger cars from India.