Hyundai likely to meet Q1 export targets

Leading car exporter Hyundai Motor India Ltd today said it will be more or less able to meet its export targets for the first quarter of the calendar year against an earlier estimation of missing the aim by 25 per cent due to the global slowdown.

"While there has not been significant increase in export orders, we have been able to retain original orders," HMIL Senior Vice-President Arvind Saxena said here.

The company is now likely to meet 95 per cent of its export target.

In December, the company had said there was about 25 per cent reduction in export orders as overseas customers had asked to hold back on shipments with orders for February and March standing at 11,000 units and 4,000 units respectively.

"In February we are expecting about 16,000 units of exports and for March the orders as of today is over 25,000 units," Saxena added.

The company exported 16,200 units in January and it is on an average exports about 20,000 units a month.