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Hyundai sales go up 23% in 2002; market share up 2.3%
Hyundai Motor India closed the year 2002 with strong growth in volumes and market share
Hyundai Motor India Ltd (HMIL), a wholly-owned subsidiary of the Hyundai Motor Company (HMC), Korea, closed the year 2002 with strong growth in volumes and market share. Backed by a 100 per cent growth in year-end sales, the company ended the year with sales of 1.1 lakh units, up 23 per cent over calendar year 2001 sales of 90,028 units. December sales peaked at 6,768 units against December 2001 sales of 3,388 units.
Not just that, all the three brands, Santro in the B segment, Accent in the C segment and Sonata in the E segment, maintained leadership in their respective market segments. The overall market share of the company went up by 2.3 per cent to reach 18.9 per cent. The year also saw HMIL achieve another significant landmark of 3.5 lakh units in cumulative sales in a record 50 months.
The sales of the flagship brand Santro witnessed a 22 per cent growth to 87,262 units from 71,573 units in 2001. Accent registered a 26 per cent growth to 21,697 units (from 17,186 units in 2001). Sonata had a 65 per cent growth to 2,092 units from 1,269 units in 2001. Exports were up 35 per cent to 8,245 units (from 6,096 in 2001) in 2002.
Commenting on the record sales, JI Kim, managing director, HMIL, said, "The year 2002 has been an eventful year for us and we are happy with what we have been able to achieve, thanks to our customers, partners and employees. We have set our sights on achieving the half-a-million units mark in sales for 2003 and on making HMIL a truly global player with capabilities to compete in the evolved automobile markets of Western Europe and North America."
Last year HMIL launched the Santro Zip Plus and the Santro Zip Plus Automatic in the compact cars segment, the Accent Viva and the Accent CRDi in the mid-sized segment and recently, the Sonata V6 in the premium segment.
HMIL has set up a fully integrated state-of-the-art manufacturing plant near Chennai, which has a capacity to produce 1.2 lakh cars a year on a three-shift basis. © 2003 agencyfaqs!