Hyundai posts 7% rise in March sales
Kingfisher employees have stopped short of saying that they would strike work in their letter to Vijay Mallya, the company chairman.
The country's second largest car maker Hyundai Motor India reported 6.62 per cent increase in total sales in March at 59,229 units.
The company had sold 55,552 units in the year-ago period, Hyundai Motor India Ltd (HMIL) said in a statement.
In the domestic market, the company's sales went up 22.94 per cent to 39,122 units from 31,822 units in same month last year, it added.
Exports of the company, however, declined 15.27 per cent to 20,107 units from 23,730 units in the year-ago period, the statement said.
"We could meet our expectations in March as there was considerable interest to beat the expected price hike in the Union Budget. The market continues to pose many challenges and things can improve if interest rates come down this quarter," HMIL Director (Marketing and Sales) Arvind Saxena said.
Export markets are doing well, but as the domestic market had greater buoyancy, so the company diverted some production for the local market, he added.
In its A2 segment (Eon, Santro, i10 and i20), the company sold 51,336 units, while in the A3 segment (Accent and Verna) sales were at 7,679 units.
The A5 segment (Sonata) of HMIL witnessed sales of 92 units, while its SUV Santa Fe received 122 buyers during the month.