Industry

Hyundai Motor, Toyota, sales down in December

Hyundai cars ready for shipment are parked at a port in the southern Indian city of Chennai October 1, 2013. A surprise increase in interest rates and rising car prices in September have tempered hopes for a turnaround in India's struggling autos sector, with some analysts pushing back forecasts for a sustained recovery to next financial year. Car sales in India have fallen nearly 6 percent so far in the current financial year to August, according to the Society of Indian Automobile Manufacturers, as high ownership costs in a slowing economy have prompted consumers to postpone purchases. REUTERS/Babu (INDIA - Tags: BUSINESS TRANSPORT)

Hyundai cars ready for shipment are parked at a port in the southern Indian city of Chennai October 1, 2013. A surprise increase in interest rates and rising car prices in September have tempered hopes for a turnaround in India's struggling autos sector, with some analysts pushing back forecasts for a sustained recovery to next financial year. Car sales in India have fallen nearly 6 percent so far in the current financial year to August, according to the Society of Indian Automobile Manufacturers, as high ownership costs in a slowing economy have prompted consumers to postpone purchases. REUTERS/Babu (INDIA - Tags: BUSINESS TRANSPORT)   | Photo Credit: Reuters

Toyota Kirloskar Motor on Wednesday reported 38% decline in total sales at 7,769 units in December 2019.

Hyundai Motor India Ltd (HMIL) on Wednesday reported 9.9% decline in total sales in December at 50,135 units as against 55,638 units in year-ago month.

The company said its domestic sales were at 37,953 units in December 2019 as compared to 42,093 units in the same month previous year, down 9.8%.

Exports during the month were also down 10.06% at 12,182 units as against 13,545 units in December 2018, it said in a statement.

Total sales in 2019 were down 2.6% at 6,91,460 units as compared to 710,012 units in 2018.

Domestic sales last year were at 510,260 units as against 550,002 units in 2018, a decline of 7.2%, it added.

Exports in 2019 were, however, up 13.2% at 181,200 units as compared to 160,010 units in 2018, the company said.

Commenting on the sales performance, HMIL Director Sales, Marketing and Service Tarung Garg said, “The Year 2019 has been a challenging year for the Indian automotive industry. Even in such adverse conditions, Hyundai Motor India as committed has launched 4 new benchmark products in different segments.”

He further said,”As we gear-up for a significant year in 2020, we will offer BS-VI in both petrol and diesel engines across different models in our product portfolio.”

VECV sales down by 19%

VE Commercial Vehicles (VECV) on Wednesday reported 19.1% decline in sales at 5,042 units in December as compared to 6,236 units in the same month in 2018.

The company, which is a Volvo Group and Eicher Motors joint venture, said Eicher branded trucks and buses recorded a total sales 4,910 units last month as compared to 6,113 units in December 2018, a decline of 19.7%.

In the domestic commercial vehicle market, Eicher branded trucks and buses clocked 4,410 units last month as compared to 5,112 units in December 2018, down 13.7%, the company said in a statement.

Exports of Eicher branded trucks were at 500 units in December 2019 as compared to 1,001 units in December 2018, down 50%, it added.

Volvo Trucks recorded sales of 132 units in December 2019 as compared to 123 units in December 2018, a growth of 7.3%, the company said.

Toyota sees decline of 38%

Toyota Kirloskar Motor (TKM) on Wednesday reported 38% decline in total sales at 7,769 units in December 2019.

The company had sold 12,489 units in the same month previous year, TKM said in a statement. Domestic sales in December 2019 stood at 6,544 units as compared to 11,836 units in the same month in 2018, down 45%.

Exports last month were at 1,225 units as compared to 653 units in December 2018, it added. Domestic sales stood at 1,26,701 units in 2019 as compared to 1,51,480 units in 2018, down by 16.36%, the company said.

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Printable version | Feb 17, 2020 9:16:28 PM | https://www.thehindu.com/business/Industry/hyundai-motor-toyota-sales-down-in-december/article30451209.ece

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