Hyundai has enjoyed reasonable amount of success in Indian market in the last few years. Hyundai wants to extend its presence in India and turn India into an exporting hub. It is going to increase its production abilities in India and wants to export 50% of its production. The Hindu reported:
“Hyundai Motor India Limited would export 50 per cent of its production after expansion of capacity scheduled to be completed by 2008, a company official said.
Hyundai Vice President (sales and marketing) Arvind Saxena told reporters at the launch of 'Verna' here on Wednesday that the second plant, coming up near the existing one near Chennai, would go on stream in 2008.
Saxena said the new plant would have a production capacity of three lakh cars, thus, taking the total to six lakh cars per annum. He said Hyundai would make India as a major export base for the company.
He said the company planned to export three lakh cars from India to at least 60 countries, including Latin America, Europe and Africa.”
Hyundai officials are now working at a frantic pace to meet the goals. In 2005, Hyundai sold 252,851 cars in India and this year it is expected to grow. The good thing is that Hyundai officials could anticipate the growth in the auto market in India and this helped the company to make the most out of Indian market.
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