Hyundai Motor set to hike i20 exports

Written by fe Bureaus | Chennai | Updated: Aug 29 2009, 05:10am hrs
Hyundai Motor India Ltd, the largest passenger car exporter and the second largest car manufacturer in India, is all set to step up export of premium hatchback i20 in the non-European markets. As part of the companys efforts to make India as a manufacturing hub, it plans to expand its export bases to 42 new non-European countries.

Hyundai exports i20, unveiled at the Paris Motor Show in October 2008, to approximately 47 countries, predominantly the European market and a few countries in the Middle East, Africa & Latin America.

In order to meet the growing demand, the company has stepped up production of i20 at its Sreeperumbedur plant near Chennai so that it can increase its penetration in countries of Africa, the Middle East, Latin America, Asia-Pacific, South Africa and Australia.

Hyundai aims to increase its export volumes manifold and expand its presence in Europe as well as non-European markets. In the first half of 2009, it exported over 6,500 units of i20 per month. This is likely to go up to 10,000 units per month with the addition of these new export destinations. Hyundai has already received initial orders from countries like South Africa, Israel and Indonesia.

HS Lheem, MD, HMIL, said: Just as in the Indian market, i20 has been the most popular car overseas. Keeping this in mind, we have planned to increase our penetration in other key potential markets. This, in turn, also reiterates our commitment to emerge as a global hub for manufacturing and exporting small cars.