Rakesh Srivastava, senior VP for marketing & sales said that total export volumes will drop over 18% this fiscal (FY14) to about 1.9 lakh units, while domestic sales is estimated to rise 8% to 4.10 lakh units as the consumer sentiment start to show an improvement. Hyundai has launched four new cars this year, the Grand i10, Xcent, Santa Fe and the new i20 on Monday.
We are expanding exports to other markets in Latin America, Asia, middle-east and Australia. EU accounted for 40% of our exports, but we don't see EU exports stopping as a loss because we will gain on the domestic front. We will add capacity at home when we exhaust what we have, he said.
Hyundai currently has an annual installed capacity of 6.4 lakh units at its two plants near Chennai, which can be increased to 6.8 lakh units with minor investments.