Excelsior Correspondent
NEW DELHI, Sept 16: Auto-makers Hyundai Motor India’s domestic passenger vehicle market share witnessed gain in April-August this year, as per data compiled by industry body SIAM.
The company sold a total of 2,03,729 units this fiscal as compared to 2,26,396 units during April-August previous year. Despite selling less this fiscal, the company’s market share has risen from 15.59 per cent last fiscal to 18.36 per cent.
“2019 is a milestone year for Hyundai Motor India as we launched three products in three different segments…the new launches have led to increase in customer traction, footfalls in showrooms and market share,” Hyundai Motor India Limited National Sales Head Vikas Jain said.
In a market that declined by about 24% between April and August, Hyundai slipped just 10%. The maker of Santro witnessed a 270-basis point increase in market share. SUVs are helping Hyundai expand its volume share. Venue has brought in incremental sales of about 35,000 units for Hyundai and thus helped the company becomes the market leader in the SUV segment.
Jain said that a positive mindset in customers is clearly visible… as they are confident with Hyundai assurance of sales and service even in a weak demand environment. “At Hyundai, the launch of Venue also cannibalized its bestselling SUV Creta. Since its launch, the company had delivered over 30,000 units and has bookings of over 90,000 units,” he said, adding, Hyundai has been ramping up production to curtail the waiting list.
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