Looks like Hyundai craze in the Indian Market is declining, as the 2nd Largest Car manufacturer recorded a downfall in sales by 3.1 percent in the last month. Hyundai sold 43,110 units in domestic market in Feb 2019 as compared to last year Feb which stands at 44,505 units. Hyundai did exports of 11,408 units against 10,917 units year ago, which is up by 4.5 percent. Having a cumulative sale of 54,518 units against 55,422 in the same month last year, it is down by 1.6 percent.
The company has not cited any reasons for the decline, but we thought that they have noticed the increasing prices of the cars and majorly not any new offerings on the stable. Moreover, every year price revision and insurance premium given by the customers for 3 years has added to the on-road cost of the car. These factors for sure have affected the sentiments of the buyers.
However, Korean Automobile Manufacturer will be launching the new Grand i10 in the Indian Market and there is a new sub-compact SUV named Styx that is scheduled for India. Riding on this wave, Hyundai may able to attract volumes and cover up for the lost sales.