MUMBAI, OCT 12: Hyundai Motor India Ltd (HMIL) has received bookings for over 10,000 Santro cars. The bookings closed on Monday. Company officials said that it had confirmed information of 10,200 bookings till late evening, which is likely to go up as figures from various cities were yet to arrive. HMIL's bookings had opened on October 8. The company received 30 to 32 per cent of the total bookings each from the northern, southern and western region. The eastern region booked around six to seven per cent of the total figure.
Around 70 dealers have already set shop in the country. The Delhi-Faridabad-Noida and Gurgaon region has eight dealers. Mumbai has five dealers, Chennai has four, Calcutta, Pune and Chandigarh have two dealerships each.
The initial bookings have met the company's sales target of 10,000 cars. A company official said that "on realistic estimate, the company had expected around 8,000 bookings and an optimistic figure of 10,000". The pessimistic target was 6,000 units of Santro.
Hyundai Motor India will start deliveries from October 18, and on an average there would be a waiting period of 45 days. The company is accepting bookings against full payment for the car. The company plans to re-open bookings once these are cleared.
It is understood that HMIL had communicated to finance companies around six months back that Rs 2.99 lakh would be the "introductory price" and may be increased but only after seeing the market conditions next year. This would depend on certain factors including: the pricing strategy adopted by other manufacturers, particularly for the Telco Indica and the kind of competition others would bring in the passenger car segment.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.