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Hyundai India's Nov car sales up 37%

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December 05, 2002 21:29 IST

Hyundai Motor India Ltd, the country's second-largest car-maker, said on Thursday its volume sales in November rose 37 per cent to 9,847 cars from the year-ago period, boosted by demand for its flagship Santro compact.

The wholly owned subsidiary of South Korea's Hyundai Motor Co said in a statement Santro sales jumped 40.8 per cent in the past month, while sales of the Accent sedan surged 50.1 per cent.

Hyundai India said it sold 104,283 cars in the 11 months to November, up 20.4 per cent from the year-ago period.

Higher sales of new variants helped the firm achieve its target of selling more than 100,000 cars in the year to March 2003 ahead of schedule, it said.

Minis and compact cars account for about 85 per cent of India's nearly 600,000-a-year new car market.

Hyundai India makes the Santro hatchback, the Accent and Sonata sedans at its $700-million car plant on the outskirts of Chennai.

In October, Hyundai India launched a new variant of its Sonata luxury sedan with a bigger 2.6-litre engine in a move to grab a bigger share of the higher-end market.

Its main competitors in the Indian market include top-ranked Maruti Udyog, Tata Engineering and Locomotive Co and Fiat's Indian subsidiary.

Hyundai India's sales in the past year rose 7.4 per cent to 93,244 cars, outpacing the scant half a per cent growth of the overall market.

Earlier in the year the firm had announced a $350-million expansion plan aimed at increasing its portfolio of offerings in the country and making Hyundai India a global export hub for small cars.

It had also applied in March to the Indian government to import a range of car and truck models for sale in the country.
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