Hyundai Motor zooms past 2009 target

Written by Yogima Seth | New Delhi | Updated: Jan 2 2010, 05:10am hrs
Hyundai Motor India, the countrys second largest passenger car manufacturer, has surpassed its target for the calendar year 2009. The company had earlier said it expects to sell 5,60,000 units in 2009 as against 4,89,328 units sold in 2008. However, according to sources the companys December sales will be a minimum 30% higher than last year, which invariably means that it will easily cross the earlier set target by a minimum of 3,000 units as 10,000 units are expected to be sold on the last day alone, assuming the average monthly sales of 50,000 units. This comes on the back of discounts, growing popularity of i10 and i20, both in the domestic market as well as overseas, and the commencement of third shift operations at the companys second plant in Chennai since September.

While we expect nearly 20% of our monthly sales to happen on the last day of December this year, the company will easily end with 30% growth in December, which means around 50,050 units vis--vis approximately 38,500 units in December last year, a company spokesperson said. The company had sold 5,12,687 units between January and November this year and an addition of December sales will result in cumulative sales of 5,62,737 units in 2009. Hyundai Motor India had registered a cumulative growth of 49.6% in 2008 over the preceding year. While its domestic sales went up by 22.4% at 2,45,397 units as compared to 2,00,412 units in 2007, exports surged by 92.5% at 2,43,931 units in 2008 vis--vis 1,26,749 units in the preceding year.