Thursday, March 4, 2021
Indian Drives
No Result
View All Result
No Result
View All Result
Indian Drives
No Result
View All Result
Home Latest News

Slow sales of EON worrying Hyundai

by indiandrives
in Latest News
0 0
0
0
SHARES
59
VIEWS
Share on FacebookShare on Twitter

Hyundai Motor India Limited (HMIL), India’s second largest car manufacturer, is worried by the slow sales of the EON that seem to be showing no signs of picking up. The EON was launched with the view to become the leader in the small car category, that till know, has been dominated only by Maruti Suzuki. But due to increasing fuel prices, and interest rates, consumers seem to be showing no interest in purchasing new cars, translating to only 9000 bookings for the Hyundai Eon in the first week, a big disappointment for HMIL.

As Mr. Arvind Saxena, Dir. (Marketing and Sales), HMIL, says, “The market has been impacted by frequent hikes in interest rates and gasoline prices. Hyundai Eon is for the entry-level buyer who is particularly sensitive to increase in lending rates. Many of our target consumers may have already availed of home loans and are now deferring purchases so as not to increase their outgo in EMIs”.

Slow sales of EON worrying Hyundai

The Hyundai Eon price at Rs. 2.69 Lakh – 3.71 Lakh, was meant to be a direct completion to the Maruti Suzuki Alto is the smallest car to be developed by the Korean operated Hyundai Motors. In expectation of high sales, HMIL delivered over 13,000 units of the small car to dealers all over the country, in response to the 96,000 enquires for the car since its launch in October this year. But with actual sales, coming out to be only 9,000, the conversion rate to actual sales has been less than 10%. The one solace to HMIL though, is that the Hyundai Eon is not the only car hit by the sales slump as all manufacturers are having to cope with this problem.

Tags: Hyundai Eon in IndiaHyundai Eon price in IndiaHyundai Eon slow sale
Previous Post

Pre-Owned Car Business by BMW to be launched

Next Post

Tips for buying Used Cars

Next Post

Tips for buying Used Cars

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Archives

Recent Posts

  • Skoda Kushaq Design Sketches Officially Revealed Ahead Of World Premiere On March 18, 2021
  • Royal Enfield Himalayan 2021 Launched In India At Rs 2.01 Lakh
  • BMW X3 xDrive30i SportX Variant Launched In India: Prices Start At Rs 56.50 Lakh
  • Latest News From Indian Automobile Industry:Tata Safari, Mahindra Scorpio, Strom R3, Hyundai Alcazar
  • Honda CB350 RS Launched In India At Rs 1.96 Lakh: Bookings For The Motorcycle Commences

Categories

Indiandrives.com

© 2020 Indian Drives

Navigate Site

  • Auto Expo 2020
  • Aston Martin
  • Audi
  • Bentley
  • BMW
  • Buyers Guide
  • Car Comparison
  • Chevrolet
  • Driving Tips
  • Events
  • Featured
  • Ferrari
  • Fiat
  • Force
  • Ford
  • Great Wall Motors
  • Harley Davidson
  • Honda
  • Hyundai
  • Isuzu
  • Jaguar
  • Kia
  • Koenigsegg
  • KTM
  • Lamborghini
  • Latest Cars
  • Latest News
  • Lexus
  • Mahindra
  • Maruti Suzuki
  • Maserati
  • Mercedes Benz
  • MG Motor
  • Mitsubishi
  • New Car Reviews
  • Nissan
  • Peugeot
  • Porsche
  • Range Rover
  • Renault
  • Rolls Royce
  • Skoda
  • Tata
  • Test Drive
  • Auto Expo 2020
  • Toyota
  • Kia
  • Upcoming Cars
  • MG Motor
  • Used Car Reviews
  • KTM
  • Volkswagen
  • Isuzu
  • Volvo
  • Harley Davidson
  • MG
  • Great Wall Motors

Follow Us

No Result
View All Result

© 2020 Indian Drives

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In