Hyundai’s domestic car sales jump 9.7% in February

Mumbai: Car maker Hyundai Motor India Ltd on Monday reported a 9.7% increase in its February domestic sales. The local arm of the South Korean car maker said it sold 37,305 units in the month against 34,005 units a year ago.

Rakesh Srivastava, senior vice-president of sales and marketing, credited the growth to additional and repeat buyers. He said such buyers were a bigger contributor to sales as compared with first-time buyers. He said the volumes were largely led by the i20, which found over 10,000 buyers during the month.

“A reduction in interest rates could bring in the thrust to break the threshold of low growth and initiate the double-digit growth,” he said in a statement.

Meanwhile, overseas shipments at India’s largest exporter of cars fell 17.5% to 10,307 units in February.

Hyundai Motor India Ltd.