Demonetisation ? Hyundai Motor India’s November sales down by one percent
New Delhi, Dec 2: Automobile major Hyundai Motor India on Friday reported a marginal decline of around one percent in its overall sales including exports for November.
The company did not divulge any reason for the fall in November sales. However, several other automobile manufacturers have blamed the government’s demonetisation drive as the reason for the monthly sales downturn.
According to the automobile major, domestic sales during the month under review receded by 8.32 per cent to 40,016 units from an off-take of 43,651 units in the corresponding period of 2015.
Nevertheless, the company’s exports rose by 21.90 per cent to 17,077 units from 14,008 units shipped off abroad during November 2015. Hyundai Motor India is the country’s largest passenger car exporter.
“Hyundai in January-November 2016 registered a volume of 604,891 units with a cumulative growth of 4.4 per cent over last year,” the company said in a statement.