Indian arm of Korean car manufacturer Hyundai Motor India is celebrating the roll out of its 5 millionth car for domestic Indian market and this milestone comes in 19 years since Hyundai started making cars in India. This is also the fastest 5 millionth car production milestone achieved by any manufacturer in Indian passenger vehicle industry. In the last 19 years Hyundai Motor India has constantly been aggressive in the Indian market and has tasted success with many products like Hyundai Santro, Hyundai Accent, Hyundai i10, Hyundai i20, Hyundai Xcent and lately with Hyundai Verna and Hyundai Creta SUV. Hyundai currently sells seven cars and two SUVs in Indian marker.
Y K Koo, MD and CEO, Hyundai Motor India Limited said, “Hyundai has a remarkable journey in India by becoming the most loved and trusted brand by customers, partners and experts. Today we are very happy to roll out the 5 Millionth car with the Next Gen VERNA in the Indian market, the fastest in the Industry symbolizing Hyundai's long-term commitment to the Indian market. Hyundai’s Modern Premium Brand direction is a commitment to offer world class and benchmark products meeting customers aspirations. We will continue this momentum with strong efforts towards customer delight through unique experiences to customers. We thank our valuable customers and partners for their support and trust in Hyundai.”
Over the years, Hyundai Motor India also ventured into the premium space by launching various generation of Hyundai Elantra, Hyundai Santa-Fe and Hyundai Tuscon. These products to helped the company to build the overall brand in Indian and saw decent sales number too. However, small car Hyundai Eon couldn't meet up to the expected sales the company might have hoped for.
Hyundai Motor India has also been the largest passenger car exporter from the country since 2004. The country exports seven of its popular models including new generation Hyundai Verna, Hyundai Creta and Hyundai Grand i10 to over 87 countries from its Chennai plant.
Hyundai Motor India milestone journey so far:
|1 Million||April 2007||8 Years & 7 Months|
|2 Million||Nov 2010||3 Years & 7 Months|
|3 Million||July 2013||2 years & 8 Months|
|4 Million||Nov 2015||2 Years & 4 Months|
|5 Million||Nov 2017||2 Years|
So far Hyundai has invested over $3.2 billion for its India operations and at its Chennai plant that has an current annual capacity to manufacture 7 lakh vehicles for both domestic and export markets. Hyundai rolled out its 1st Millionth Car the famous Santro back in 2007 in just 8 years and 7 months post commencement of commercial production in 1998 and continued the trend by achieving the 3 Million mark in less than 2 years and 8 months in July 2013 followed by next fastest 4 Million Mark in only 2 years and 4 months in Nov 2015.
Hyundai India has been expanding its product portfolio and has forayed into new segments continuously.The company currently has over 2,200 sales and service points including 422 rural outlets.