ID :
189959
Tue, 06/21/2011 - 03:58
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Shortlink :
https://oananews.org//node/189959
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Hyundai Motor's Indian market share hits new yearly high
SEOUL (Yonhap) - The market share of South Korea's leading automaker Hyundai Motor Co. in India rose to the year's high in May on brisk sales of its new passenger car launched there earlier in the year, a local trade group said Tuesday.
According to the Korea Automobile Manufacturers Association, Hyundai Motor sold 31,123 cars in India last month, up 14.6 percent from the same period last year.
The figure gives Hyundai a market share of 19.5 percent, up from the previous yearly high of 19.3 percent recorded just a month earlier. It is the second-largest market share in India's automobile market after the 48.3 percent held by Maruti Suzuki Ltd., a joint venture of Japan's Suzuki Motor Corp. and an Indian firm.
Officials from Hyundai Motor attributed the recent increase of sales in India to growing customer demand for the company's small passenger car, the Verna, launched in India in February.
The company sold only six units of the Verna in February and 15 units in March, but the number increased to 1,740 units in April and then to 4,334 units in May as more customers began to recognize the vehicle, they said.
According to the Korea Automobile Manufacturers Association, Hyundai Motor sold 31,123 cars in India last month, up 14.6 percent from the same period last year.
The figure gives Hyundai a market share of 19.5 percent, up from the previous yearly high of 19.3 percent recorded just a month earlier. It is the second-largest market share in India's automobile market after the 48.3 percent held by Maruti Suzuki Ltd., a joint venture of Japan's Suzuki Motor Corp. and an Indian firm.
Officials from Hyundai Motor attributed the recent increase of sales in India to growing customer demand for the company's small passenger car, the Verna, launched in India in February.
The company sold only six units of the Verna in February and 15 units in March, but the number increased to 1,740 units in April and then to 4,334 units in May as more customers began to recognize the vehicle, they said.
