Hyundai India Sales Decline 3% In July To 64,563 Units
Exports, totaling at 15,550 units in July, experienced a slight decline of 2.81%.
Hyundai Motor India Ltd. reported a 3% year-on-year decline in wholesales, with July figures falling to 64,563 units as compared to 66,701 units in the same month last year.
The company also noted a 3.3% drop in domestic dispatches, which decreased to 49,013 units from 50,701 units a year earlier.
Exports, totaling at 15,550 units in July, experienced a slight decline of 2.81%.
In June, Hyundai Motor had filed for an initial public offering with India’s markets regulator, setting the stage for the first carmaker to drive on to Dalal Street in more than two decades.
On offer in the Hyundai Motor IPO are 14.2 crore shares, equivalent to 17.5% stake, with a face value Rs 10 each, according to the draft red-herring prospectus filed with the Securities and Exchange Board of India. The offering is a pure offer-for-sale by parent Hyundai Motor Co.
The South Korean carmaker will not issue new shares in the IPO.
(With inputs from PTI)
