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Money > Reuters > Report July 2, 2001 |
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Hyundai India unit June car sales up 39 per centThe Indian unit of Hyundai Motor Co, the country's second-largest car firm, said on Monday its June sales jumped 39 per cent to 8,502 units from 6,116 in the same month last year. The increase appears inflated by last year's low base when higher state taxes and the need to introduce more expensive emission-reducing technologies pushed up prices and hit sales. Hyundai Motor India Ltd said in a statement it sold 23,744 units in the April-June quarter of the current year to March 2002, up 13.6 per cent from the year-ago period. India's overall car sales have fallen six per cent in April-May on the heels of a 7.5 per cent drop in the previous year to March. Hyundai India, which launched its first car in India, the Santro, in October 1998, is a wholly-owned subsidiary of the South Korean company and makes cars at its plant near Madras in south India. The Santro is positioned in the premium small car segment. The company sold 85,448 cars in 2000 including 68,606 Santros and 16,842 mid-size Accents. These include the export of 3,823 cars.
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