Amidst slump in Indian auto market, Hyundai posts 5.6 per cent drop in sales in May 2019

Hyundai Motor India has announced its sales report for May 2019, which is in negative. Notably, Hyundai Motor India's domestic volumes witnessed a decline in May 2019 at 42,502 units, dropping by 5.6 per cent as against 45,008 units sold in May 2018. It is projected that the company’s growth was affected due to the slump in the Indian auto market.

However, the car maker has received some positive news on the export front. It saw a major increase in volumes by 50.8 per cent with the company shipping 16,600 units in May 2019, as against 11,008 units during the same period last year.

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Despite the poor performance in the Indian market, the car maker’s overall volumes for the previous month still over the red line. Hyundai sold a cumulative 59,102 units (including domestic and exports) last month, growing by 5.5 per cent over 56,016 units sold during the same period last year.

In its line up in India, Hyundai motor has Santro, Grand i10, Elite i20, i20 Active, Xcent, Verna, Elantra, Venue, Creta and Tucson among others. The car maker also has a few new products lined up for a launch this fiscal that will include the Kona Electric SUV and the Tucson facelift. Interestingly, Hyundai India has further repositioned itself as the country's first smart mobility solutions company, diversifying its presence in other vehicle categories.

Meanwhile, sales for Hyundai Motors are expected to improve in the near future and the reason would be the strong demand for the newly launched Venue subcompact SUV. With booking numbers at whopping 20,000 and counting, the Venue is all set for a good start and will definitely help stabilise the Korean auto giant's fall in the Indian market.

Other manufacturers including Maruti Suzuki and Tata Motors registered double-digit de-growth, while Mahindra sales dropped by just one per cent.