Hyundai Motor India, the second largest car manufacturer and the largest car exporter in India has posted a decline in its sales for the month of March 2014. The carmaker sold a total of 51,708 units in the month in comparison to 56,437 units sold in the same month in 2013.
The major contributor to the sales decline in March 2014 was the decrease in the export shipments. The export operations of the Korean automaker fell by 26 percent from 22,579 units in March 2013 to 16,705 units shipped in March 2014.
According to Mr. Rakesh Srivastava Senior Vice President (Sales and Marketing) Hyundai Motor India, the reduction of excise duty by the government in February 2014 has helped the carmaker post a growth of 3.4 percent in its domestic sales for March 2014, selling 35,003 units in the month in comparison to 33,858 units sold in the same month in 2013. He added that the excise rate cut is a favorable step for the Indian auto industry.
