Hyundai has been the second-largest car manufacturer in India for quite a time, with sale just below Maruti Suzuki India Limited, the company has shown great potential in its due period of time. Talking about the sales, Hyundai in May 2021 recorded sales of 25,001 units which translates to YoY growth of 263% when compared with the 6,883 sales of May 2020. However, the MoM calculation shows a rather ugly negative growth of 49%.
Hyundai is also India’s largest passenger car exporter which in May 2021 exported a total of 5,702 units compared to 5,700 units in May 2021, translated to almost 0 growth or decline on a YoY basis. And when adding up these two numbers we get the cumulative sale of the company which for the previous month stood at 30,003 units compared to 12,583 units in May 2020. But if compared on a month-on-month basis, then these numbers show a massive decline in sales all over. Keep in mind that these declining sales are so very highly affected by the pandemic situation in the country.
These sales numbers are presumed to only go up from this month, due to the fact that the second wave of the pandemic in India has started losing its tempo and states have started giving relaxation in the lockdown applied by them however, the recovery will solely depend on how the audience perceives this situation and continue on buying the cars.
Hyundai is also ready to launch its new 7/6-seater Hyundai Alcazar to boost up its current sales. The car was earlier meant to be launched last month however the pandemic didn’t allow it and the launch was pushed further and if this recovery still continues then Hyundai will likely be releasing the new Alcazar in this month only.