Hyundai Motor company has set a new sales record in India as India becomes the company’s third largest market for the first time.
According to the Society of Indian Automobile Manufacturers (SIAM) on January 24, Hyundai Motor sold 476,001 units in India last year, up 15.7 percent from a year ago.
That is 5,871 units more than the 470,130 units posted in the European market during the same period
“Our sales in India grew about 2.6-folds compared to 2006 when we sold 186,174 units.” Hyundai Motor gained a share of 15.7 percent in the Indian market,” the company announced.
With India’s growth rate expected to repeat at 7 percent this year again, industry watchers predict it will remain the third largest market for Hyundai Motors in 2016, after the United States and China.
Since market entry in 1998, Hyundai has expanded local production, with 10 different models being produced and sold locally.