Search the Internet          Tips  Sites: Finance, Investment

Hyundai India's April car sales down marginally

The Indian unit of Hyundai Motor Co said on Wednesday it sold 7,203 cars in April, down 0.9 per cent from 7,265 cars in the year-ago period.

Hyundai Motor India Ltd, which has become India's second largest car company, said total sales in the first four months of 2001 stood at 33,107 cars.

It sold 10,008 cars in March.

India's overall car sales shrank 7.5 per cent to 590,647 in the financial year to March 2001 while Hyundai's sales in the year grew 14.7 per cent to 86,798 cars.

The firm said last month it expected its car sales to grow by 16.4 per cent in the year to March 2002.

Hyundai India, which launched its first car -- the 1.0 litre hatchback Santro -- in October 1998, is a wholly-owned subsidiary of the South Korean company.

It makes the Santro and the mid-size Accent saloon at its plant near the southern Indian city of Madras.

It sold 85,448 cars in calendar 2000 including 68,606 Santros and 16,842 Accents.

India's largest car maker Maruti Udyog Ltd, a joint venture between the Indian government and Japan's Suzuki Motor Corp, has seen its market share fall to just over 50 per cent from nearly 80 per cent two years ago.

Tell us what you think of this report