Hyundai Motor's India sales dive 23.3 pct in Nov.

SEOUL, Dec. 14 (Yonhap) -- Hyundai Motor Co.'s vehicle sales in India plunged more than 23 percent in November amid falling global demand, industry sources said Sunday, raising concerns that a bumpy road is ahead for local carmakers' overseas sales.

Hyundai Motor, South Korea's leading carmaker, sold 14,605 vehicles in India last
month, down 23.3 percent from the same month a year earlier, according to the
sources.
Hyundai's setback in India is seen as a sign that South Korean carmakers are
struggling to sell their vehicles in emerging markets, which have been the
linchpin of their sales despite an overall drop in overseas demand.
Hyundai Motor, however, put a bold face on the November performance, saying that
sales are expected to pick up down the road.
"Given a 30 percent tumble in India's industrial demand, November sales are not
so bad," a Hyundai Motor official said. "We expect sales to recover in coming
months as the Indian government is poised to boost car demand through tax breaks
and other measures."
The global economic slump has dealt a harsh blow to Hyundai Motor and other local
carmakers.
In November, Hyundai Motor's overall vehicle sales fell 1.6 percent on-year to
234,211 units. Domestic sales plunged 34.4 percent to 35,902 units, but exports
rose 8.2 percent to 198,309 units.
Hit by the global economic downturn, Hyundai has already cut production at its
seven plants in South Korea, reducing monthly output by 10 percent. It has also
reduced output at its U.S. plant.
Hyundai, which has long relied on overseas markets to fuel growth, has overseas
plants in the U.S., China, India, Turkey and the Czech Republic.