The South Korean vehicle manufacturer’s exports from India increased by 14.6% during the month. (AFP) — The South Korean vehicle manufacturer’s exports from India increased by 14.6% during the month. **(AFP)**

Hyundai domestic wholesale dispatches up 29% in February

2 min read . Updated: 01 Mar 2021, 01:28 PM IST Malyaban Ghosh

On a sequential basis, factory dispatches though declined marginally from 52,005 units in January as the company raised production to increase inventory at dealerships after robust growth recovery in retail sales during October to December

Hyundai Motor India Ltd, the country’s second largest passenger vehicle manufacturer, on Monday reported a robust 29% year-on-year increase in domestic wholesales to 51,600 units in February on the back of high demand for its hatchbacks and sport utility vehicles.

On a sequential basis, factory dispatches though declined marginally from 52,005 units in January as the company raised production to increase inventory at dealerships after robust growth recovery in retail sales during October-December.

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The South Korean vehicle manufacturer’s exports from India increased by 14.6% to 10,200 units during the month. The Indian arm's total wholesales in February increased by 26.4% to 61,800 units.

The growth in wholesale though comes on a very low base in the corresponding period, when the company had to reduce production substantially due to falling demand for vehicles and transition to Bharat Stage 6 fuel emission norms. Shortage of spare parts due to outbreak of covid-19 pandemic in China and South Korea also impacted production.

“Hyundai Motor India has been consistently striving to drive resurgence in sales, thereby contributing towards economic recovery and bringing the industry closer to pre-Covid level sales. With a cumulative sales of 61800 units in February 2021, Hyundai has recorded growth across segments. Both domestic and export demand have recorded healthy double digit growth in February 2021, reflecting an all-round improvement in buyer sentiment," said Tarun Garg, director, sales and marketing, Hyundai Motor India.

The company’s total wholesale in February increased by 26.4% to 61,800 units.

Despite disruptions caused by the Covid-19 pandemic, Hyundai reported double digit growth in retail sales of its vehicles in the Navratri and Diwali festivals due to good customer response for its products like Creta, Venue and i20 and shift in customer preference towards personal transport to avoid infection.