Hyundai Motor India stays ahead by posting 19% growth in 2006-07

Domestic sales in FY 06-07 195,261 (22.8% growth)
Export in FY 06-07 115525 (13.15% growth)

New Delhi, Apr. 2, 2007: Hyundai Motor India, the second largest passenger car maker and the number one car exporter in India today registered a healthy 19% growth in its sales in FY 06-07 (1st April, 2006 to 31st March, 2007).

HMIL’s cumulative sales in this period reached an impressive 195,261 units being sold in the domestic market with the growth of 22.8% while the export accounted for 115,525 units by registering a growth of 13.15 %.

Hyundai Motor India’s sales continued on an upward swing as the first quarter of 2007 saw a 21.1% growth with 52,219 units in the domestic sales and exports stood at 27,707 units with a growth of 8.5% as compared to 43,132 units and 25,521 units respectively in Jan-March 2006. The overall growth of the Jan-March 2007 is 16.4% with 79,926 units compared to Jan-March 2006 with 68,653 units.

HMIL’s in March 2007 clocked 28,239 units in total, with 19,300 units coming out of domestic sales while the overseas market generated sales of 8,939 units for this month.

The segment-wise cumulative sales in the month of March 2007 are as follows:

A2 Segment: 23,438 units, A3 Segment: 4,564 units, A4 Segment: 66 units, A5 segment: 113 units, SUV Segment: 58 units.

Commenting on the financial year results, H.S.Lheem, MD, HMIL said "The FY 06-07 result are encouraging and we have maintained our growth rate in the market here. Our exports are growing rapidly and once we overcome our production constraints with additional capacity we will grow even faster. With newer products in our portfolio like the diesel Sonata and the new Getz Prime I am confident that this financial year would generate even a higher growth rate than last financial year."

Hyundai Motor India recently shipped the first batch of made in India Getz to Germany.

Source : Equity Bulls

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