Hyundai Motor (India) Ltd (HMIL), country’s second largest automakers, expressed ‘disappointment’ on the Union Budget, presented by Finance Minister Pranab Mukherjee, as ‘no support’ was announced for auto exports.
HMIL Senior Vice-President (Sales & Marketing) Arvind Saxena said that he was ‘disappointed that no support was announced for auto export” in the budget. However, he welcomed the decision for not making any change in the excise duty.
“No change in excise duty is welcome for domestic demand”, he said.
HMIL reported a 17.63 per cent increase in its sales at 47,267 units in June 2009 as against 40,182 units in the last fiscal.