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Hyundai Motor Breaks the One Month 10,000 Sales Barrier in India

2001.04.10 No. 69
April 10, 2001 - -Hyundai Motor Breaks the One Month 10,000 Sales Barrier in India In less than three years since its start-up in the Indian car market, Hyundai Motor India has broken the 10,000 sales in one month barrier. Only the Government-backed Maruti Udyog joint venture company has previously achieved this feat. And Hyundai`s success is even more remarkable as it was only in September 1998 that it sold its first car in the Indian market. Overall sales increasing The wholly-owned subsidiary of Hyundai Motor Company has a factory in Chennai in Southern India and the March one-month performance reflects an overall sales increase. The figure for March was 10,008 compared to 8,412 in the same month last year and total sales for the financial year to the end of March was 86,798 - a 15 per cent increase over the 1999-2000 financial year. Hyundai Motor India was also able to boast in improved turnover figure of US $ 661 million - up 29 per cent over the previous year. Since the first Santro car was sold in September 1998, the company has also introduced the Accent model and just recently launched EF Sonata at the top end of the Indian new car market. Since that first sale Hyundai Motor India sales have topped 180,000 units and the company began exports late last year. So far 5,837 units have been exported. Secure position The continuing success of Hyundai vehicles in India has allowed the company to secure its position as India`s second-largest car company. Although Hyundai remains behind Maruti`s dominant position, it narrowed the gap last year. Hyundai has 14.1 per cent of the Indian market compared to Maruti`s 56.3 per cent. The next largest company is Telco with 8.7 per cent. The Indian market in 1999-2000 totaled 578,508 vehicles. Hyundai Motor India director, Mr. Y.S.Kim said: "We have consistently focused on the consumer and our technology and quality has helped us to build this growth. Our facility in India has often been constrained for capacity and we are increasing our productivity to ensure we remain the benchmark in India."
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