Hyundai Motor India counters interest rate hike with special scheme to register steady growth in sales

New Delhi, May 2, 2007: Hyundai Motor India Ltd (HMIL), the country’s second largest car manufacturer and the largest passenger car exporter, recorded a growth of 4.8 % and 4.6 % in the domestic and export markets respectively for the month of April, 2007. Hyundai Motor India sold a total number of 27,069 units for the month of April, 2007. While the domestic market accounted for 15,728 units, the exports registered 11,341 units in April, 2007.

Commenting on the sales this month Arvind Saxena, VP, Marketing and Sales said "with the increase in the interest rate there could have been a slump in demand but we took the timely measure of introducing a special scheme of 8.99% interest to serve our customers better and this obviously has helped us in keeping the momentum going and consolidate our position as the second largest passenger car manufacturer in India"

The segment-wise cumulative sales in the month of April 2007 are as follows: A1 Segment - 22,550 units; A2 Segment - 4,399 units; A3 Segment - 24 units; A4 Segment - 65 units; and SUV Segment - 31 units.

Source : Equity Bulls

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