Hyundai's May sales zoom by 16.6 percent

New Delhi, June 1 (IANS) Automobile major Hyundai Motor India Limited (HMIL) Friday announced that its total sales including exports grew by 16.6 percent in May to 55,670 units from 47,762 units sold in the corresponding period of 2011.

The company projected the demand outlook as bearish due to the steep hike in petrol prices and high interest rates.

"The recent hike in petrol prices has depressed market sentiment, with the macro-economic indicators providing no cause for cheer, the demand outlook doesn't look very bright," said Arvind Saxena, director, marketing and sales, HMIL.

According to the company, domestic sales increased by 2.8 percent in the month under review to 32,010 units from 31,123 units sold in May last year. However, exports zoomed by 42.2 percent with 23,660 units shipped out as compared to 16,639 units in the corresponding month of 2011.

The segment-wise sales of A2 segment brands, including that of Eon, Santro, i10 and i20, stood at 48,250 units, A3 sedan segment of Accent and Verna at 7,306 units, A5 segment luxury sedan Sonata at 43 units and sports utility vehicle (SUV) Santa Fe at 71 units.