The auto market conditions are tough and so it will definitely impact the annual auto sales of the nation. And therefore even the second largest car manufacturer of the country Hyundai Motor India exclaims that this year achieving a yearly sales target of 6% to 7% sound quite tough to meet because of shooting petrol prices and hiked up interest in loans.
The marketing and sales director of Hyundai Motor India, Mr. Arvind Saxena expressed to news officials, “At the start of 2012, we predicted 6%-7% sales target but now with such difficult market conditions the aimed growth seems tough to meet.”
And now customers are altering their preferences and going for diesel cars instead of buying petrol run vehicle due to frequent increase in petrol prices. As per specifications, Hyundai’s overall car sales currently constitute of 28% diesel cars.
He further said, “The auto sales growth is getting dimmer and one of the factors for the same is the petrol price along with high interest rates, which is too a significant issue. As per market conditions, inflation is still up, economy is still down…so overall sentiment is down.”
Last year, Hyundai sold 6,16,039 units with 4.8% hike in its domestic sales at 3,73,709 units. But company’s export figures dipped by 1.9% at 2,42,330 units.
Commenting about the recent proposal of hiking duty on diesel cars, Mr. Saxena proclaimed that same from the government will not assist in any extra revenue collection.