Hyundai Motor India Ltd. has announced its wholesale number for the month of March 2020. In the final month of the 2019-20 financial year, it sold 32,279 units cumulatively. Hyundai India’s domestic sales for the month of March 2020 stood at 26,300 units against 44,350 units in the same time period last year. Hyundai India is also India’s latest exporter shipped 5,979 units, which is a massive decline when compared against 16,800 units from the corresponding months in 2019.
Domestic sales saw a decline of 40%, while exports declined by 64.4%. Overall sales saw a drop by 47% cumulatively. However, it must be noted that due to the Janta Curfew on March 21, followed by the all-indie lockdown due to the coronavirus lockdown from March 24, Hyundai India had temporarily suspended its operations at its manufacturing plant in Chennai along with its dealer network. Therefore the difference in sales is not entirely representative.
The Indian automotive industry was already undergoing a crisis with dwindling sales since August 2018. Sales had nearly hit rock bottom and there were no significant signs of recovery. Now the lockdown in various countries due to the coronavirus has not only hit the automotive industry hard but will have a lasting impact on the entire global economy.
Despite the difficult times, Hyundai India had launched the second generation Hyundai Creta at a starting price of Rs 9.9 lakh on March 16. Again on March 31, Hyundai silently launched the new Verna facelift and the sedan is priced from Rs 9.3 lakh to Rs 15.1 lakh. All prices are ex-showroom Delhi. As of April 1, 2020, the Indian automotive industry has transitioned to BS6 emission norms as all vehicles sold hence fourth will have to comply with the new emission regulation. The Area and the Verna both are equipped with new BS6 engines.
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