Hyundai Motor sells more cars in India than Europe in 2015

SEOUL, Jan. 24 (Yonhap) -- South Korea's top carmaker Hyundai Motor Co. sold more automobiles in India than European countries combined in 2015, data showed Sunday, with the shipments to the Asian country set to rise further down the road.

Hyundai Motor sold 476,001 units of automobiles in India last year, the data compiled by the Society of Indian Automobile Manufactures showed, marking a 15.7 percent growth on-year.

The figure hovers above the 470,130 units posted in the European market in 2015, which also marked a record level by jumping 10.9 percent on-year.

With the Indian market estimated to expand 7 percent this year, industry watchers said the country is expected to stand as the No. 3 market for Hyundai Motor, along with the United States and China.

"With lower interest rates and oil prices, the Indian automobile market is expected to continue its expansion this year," a Hyundai official said.

The combined sales of automobiles in India are expected to reach 2.92 million units in 2016, up 6.3 percent on-year, separate data compiled by the Korea Automotive Research Institute showed.

colin@yna.co.kr
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