Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
Sat, Oct 19, 2019 | Last Updated 5:30 am IST

Menu &Sections

Search

Hyundai demands slowdown in market is very much cyclical and not structural

Hyundai demands slowdown in market is very much cyclical and not structural
Hyundai demands slowdown in market is very much cyclical and not structural
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

New delhi sources stated that the ongoing slowdown in india’s automobile market is transient and government intervention can drive a turnaround in the coming quarters, especially during the festival season, said a top executive of hyundai Motor india Ltd. With automobile sales on the decline for about a year, companies have been urging the government to either reduce the goods and services tax (GST) on automobiles, or offer some other financial relief to revive demand.

Hyundai demands slowdown in market is very much cyclical and not structural

“The festival season might be a great opportunity for hyundai and all other OEM’s (original equipment manufacturers) in terms of recovery of demand and revival. In many areas, the customer sentiment is subdued and we are preparing interesting customer communication programs," said Seon Seob Kim, managing director and chief executive, hyundai Motor india.



Wholesale dispatches of passenger vehicles fell 31% from the year earlier in July to 200,790 vehicles, according to the Society of Indian Automobile Manufacturers. It was the sharpest drop since the 35% fall in December 2000. July also witnessed the ninth straight drop in monthly wholesale passenger vehicle sales.


Hyundai demands slowdown in market is very much cyclical and not structural
5/ 5 - (1 votes)
Add To Favourite
More from author
Internet crazy over Viral letter exchanged between US & Turkey
Sachin Tendulkar welcomed ICC's decision to stop boundary count in World Cup
Why didn't RTC Management or Telangana Govt call RTC Employees for talks?
Muslim parties accused SC appointed mediation panel of leaking proceedings in Ayodhya Case
This 17 year old Cricketer made history by scoring Double century
BJP confident in winning Maharashtra Assembly Elections with full majority
BJP made scrapping of Article 370 its main talking point in assembly elections in Haryana & Maharashtra
World Champion PV Sindhu struggled to buck the trend of Denmark Open in second round
PMC Bank came under RBI scanner
Kerala Cops searches Jolly's friend seen in many photos
Northeast Monsoon intensified in Tamilnadu
Will AP Secretaries stop Fake News?
Telangana's new Liquor Policy received 41,000 applications
Sourav Ganguly hopes to bring the BCCI system 'back in order'
AIADMK announced candidates for Assembly by-polls
Mira Erda a talented racer
Nirav Modi remanded to Prison until November 11
Researchers invented a new technique in genomics to track down causes of rare genetic diseases
About the author

Nanotechnology Degree Holder. Movie Geek. Crazy about comics and cartoons. Hardcore Cricket Lover. Photoshop Professional