Car Sales March 2021: Hyundai Motor India Records Sales Decline Of 15.20 Per Cent In Domestic Market

Hyundai Motor India has recorded a year-on-year (YoY) sales decline of 15.20 per cent in March 2022 selling 44,600 units in the domestic market as compared to 52,600 units in the same month last year. The company's exports too went down by 11.09 per cent as the company shipped 10,687 units from India last month as compared to 12,021 units exported in the same month last year. Overall, Hyundai's cumulative sales recorded a slump of 14.44 per cent, selling 55,287 units as compared to 64,621 units sold in the same month year. That said, the company recorded a marginal month-on-month (MoM) growth of 1.24 per cent in the domestic market as it sold 44,050 units in February 2022.

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Hyundai India recorded a MoM growth of 1.24 per cent in March 2022.

Coming to FY2022 sales, the company recorded a growth of 2.1 per cent in FY2022 selling 4,81,500 units in the domestic market as compared to 4,71,535 units sold in the period a year ago. Hyundai's exports in the same financial year went up by 23.9 per cent selling 1,29,260 units shipped in FY2022 as compared to 1,04,342 units sold in the same period last year. The carmaker's cumulative sales went up by 6.1 per cent in FY2022 selling 6.10.760 units as compared to 5,75,877 units sold in the same period a year ago.

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The semiconductor chip shortage continues to play spoilsport for carmakers in India as it continues to take a toll on production and in turn on sales. Hyundai Motor India had also reported a sales decline of 14 per cent in February 2022 selling 53,159 units as compared to 61,800 units sold in the same month a year ago.