Hyundai Motor India Faces Slight Decline in Vehicle Dispatches Amid Global Challenges

Hyundai Motor India reported a 3% decline in total vehicle dispatches for February, with domestic dispatches down 5% and exports up slightly. CEO Tarun Garg remains optimistic that tax reforms and improved liquidity will boost demand. The company aims to strengthen its export position.

Hyundai Motor India has announced a slight decrease in vehicle dispatches for the month of February, reflecting a 3% drop from the previous year to a total of 58,727 units. This includes a 5% decline in domestic market dispatches, which total 47,727 units compared to 50,201 units last year.

On the export front, the company has seen a modest increase, distributing 11,000 units abroad, up from 10,300 units during the same period last year. Despite these challenges, Whole-time Director and CEO of Hyundai Motor India, Tarun Garg, expressed optimism regarding forthcoming tax reforms and enhanced liquidity outlined in the Union Budget 2025, which are expected to invigorate market demand.

By enhancing its export strategies, Hyundai Motor India aims to further solidify its status as a significant export hub for Hyundai Motor Company globally.

(With inputs from agencies.)