Hyundai Motor India Ltd has announced its sales performance for the month of August 2020. Hyundai has confirmed that it has registered sales growth in the domestic market, while exports are still registering lower numbers than before. Cumulatively, Hyundai Motor India sold and shipped 52,609 units in August 2020. 45,809 Hyundai vehicles were sold in the domestic market while 6,800 units were exported. Hyundai claims most of its sales in August 2020 came from its latest generation and newly introduced models which include the new Creta, Verna, Tucson, Nios, Aura in addition to the new iMT clutchless manual transmission-equipped Hyundai Venue.
HMIL confirmed that it recorded a growth of 19.9% in the domestic market when compared to the 38,205 units it sold in 2019. However, exports were down from 17,800 units in 2019 resulting in a slump of -61.8%. This led to its cumulative sales in August 2020 to also be lower than the corresponding month in 2019. Having sold 56,005 units in August 2019, and 52,609 units in August 2020 resulted in degrowth of -6%.
The numbers, however, may not tell the whole story of the condition the Indian auto industry is undergoing. Since November 2018, the Indian auto industry has been struggling to generate demand as a whole. In August 2019, the Indian auto industry was still going through a tumultuous period meaning that it was already registering in red last year. Earlier this year, due to the coronavirus pandemic, the industry was forced to halt all manufacturing and sales operations in late March, followed by the entire month of April and began to reopen gradually in May. But seeing the demand beginning to rise, suggests that the worst may be over, but there is still a long road ahead.
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