Hyundai Motor sales up in March

Chennai, April 2 (IANS) India's second largest car manufacturer Hyundai Motor India Ltd closed last month with 6.6 percent growth in sales though its exports fell by 15.26 percent compared to March 2011.

The company said Monday that it had sold 59,229 units (domestic 39,122 units, exports 20,107) as against 55,552 units (domestic 31,822, exports 23,730 units) in March 2011.

"We could meet our expectations in March as there was considerable interest to beat the expected price hike in the union budget. The market continues to pose many challenges. Things can improve if interest rates come down this quarter," Arvind Saxena, Director (marketing and sales), said.

"Export markets are doing well but as the domestic market had greater buoyancy, our export lines were diverted for the domestic market," he added.