The lowest monthly sales result since May 2020, the auto sector’s sales fell 73% YoY in February. Only 5,762 units of automobiles, vans, pickups, and LCVs were sold in this industry. Sales for the first eight months of the current fiscal year likewise decreased by 44%, from 178,250 units in the comparable period of FY22 to 100,057 units.
Hyundai Nishat’s Tucson SUV performed very well despite the generally dismal outlook for the car sector, selling 708 units in February, up from 620 units the month before. In the first eight months of FY23, Tucson sales increased by 60% to 3,558 units from 2,230 units during the same period in FY22.
An industry that is generally struggling is only occasionally brightened by Tucson’s strong sales numbers. According to experts, the SUV’s tremendous demand is a result of both its competitive pricing and excellent features and performance. If other models can emulate the Tucson’s performance and aid in bringing the beleaguered industry out of its current rut, the auto industry will be eagerly watching.
