Korean auto major Hyundai Motor Co (HMC) today projected lower total car sales from its Indian unit this year despite posting a marginal increase in 2012.
According to the company's business plan for 2013, the company said its plant at Chennai is projected to have a wholesale volume of 6,33,000 units as compared to 6,41,000 units clocked last year, a decline of 1.3%.
The domestic sales of Hyundai Motor India Ltd, the company's wholly-owned subsidiary, during last year increased by 4.70% to 3,91,276 units from 3,73,709 units in 2011, while exports went up by 3.12% to 2,50,005 units from 2,42,431 units in the previous year.
HMC, however, set a higher overall global sales target of 46,60,000 units for this calendar, up 5.7% from 44,10,000 units last year.
In 2012, the company's revenues in India stood at 5,097 billion Korean won (KRW) (over Rs 25,600 crore), up one% from KRW 5,052 billion (over Rs 25,400 crore).
For the fourth quarter ended December 31, 2012, HMC had reported a 5.49% decline in net profit at KRW 1.89 trillion as against KRW 2 trillion. Its revenues stood at KRW 22.72 trillion as compared to KRW 20.52 trillion.
In the calendar 2012, HMC had a net profit of KRW 9.06 trillion, up 11.7% from KRW 8.11 trillion last year. Sales revenue during the year stood at KRW 84.47 trillion as compared to KRW 77.80 trillion last year, up 8.6%.
