Hyundai files a marginal growth

Hyundai-MotorHyundai Motor India Ltd, the country's second largest car manufacturer and the largest passenger car exporter has managed to file a marginal 7% growth in the Indian market.

However, when it comes to the domestic sales, the company has been able to grow by over 15% clearly showing the increased focus on the domestic circuit of the Korean auto major.

Arvind Saxena, Director - Marketing and Sales, HMIL said that the company has been able to grow in the past months according to its expectations but as its plants were shut down in the part of the month for annual maintenance, it has not been able to grow as expected.

It is believed that the demand for the i20 has been on a rise and the company has been able to grow significantly banking on the trimmed down version of the same. In fact, the company has recently shifted a part of its i20 production to Turkey to ensure a sustained domestic growth in the product.

Moreover, Hyundai will be looking at new export destinations to ensure high volumes for the current year.