New Santro Lifts Growth For Hyundai This Festive Season
Hyundai Motor India Ltd.’s new Santro, which made a comeback nearly four years after it was phased out, aided the overall volumes of the South Korean company in an otherwise weak festive season for carmakers.
The tall-boy hatchback has received bookings for 36,000 units so far, India’s second-largest carmaker told BloombergQuint. Hyundai Motors, which sold over 8,500 Santro cars in October, said 50 percent of bookings were for automatic and CNG-fuelled variants.
Hyundai said overall it sold a record 52,001 units in October. That was aided by new models, helping it grow more than the industry average of 1.7 percent.
Still, Kerala floods, a weak festive demand and rising oil prices weighed on demand, admitted Puneet Anand, senior general manager-marketing and group head at Hyundai Motor India.
The carmaker, however, expects inventory levels and incentives to come down as deliveries pick up in coming weeks. Anand also anticipates new launches to boost sales in the January-March quarter.
Hyundai October Sales
- Hyundai achieves highest-ever domestic sales of 52,001 units in October.
- October domestic sales up 5 percent year-on-year.
- New Santro wholesales for October stood at 8,500 units.
- Company gets 1,29,500 enquiries within 22 days of the new Santro’s launch.
- Total bookings of 36,000 units.
- Waiting period for the new Santro is three to four months.
- Strong demand seen from tier-II cities, rural markets.
- Hyundai looking to expand the Chennai plant’s capacity to meet the demand for the new Santro.
Watch the full interaction here: