Hyundai ups export target on demand

South Korean carmaker Hyundai Motor’s wholly owned Indian subsidiary Hyundai Motor India Limited (HMIL) plans to double its export figure this year.

“We have likewise revised our export target this year from 2,12,000 units to 2,40,000 units,” said Arvind Saxena, senior vice president, marketing & sales, HMIL.Last year, in 2007, the company clocked in a total sales of 3,30,000 units of which exports claimed around 1,16,000 units.

“This year we are planning to take it upto 2,40,000 units riding on the back of high demand in the international market for products like the Santro, i10, Getz and the latest new Kappa engine fitted i10 models, which meet the Euro 5 requirements.”

The increase in export figure comes mainly due to capacity utilisation, and higher demand for HMIL products in the domestic and export markets.

HMIL, currently has a total production capacity of around six lakh units per annum from their Chennai plants.

The company very recently rolled out the new 1.2 litres advanced Kappa engine from their Chennai plant which is currently available only with the i10 car models.

The new Kappa engine is not only fuel efficient but also meets the Euro 5 requirements, which gives it the increased popularity, said Saxena.

The company has set an overall sales target of 5,30,000 units this year, of which exports will account for around 2.4 lakh units and the rest will be sold in the domestic market. For this domestic market the company has very recently rolled out a compressed natural gas variant on Santro and Accent in Delhi and is planning to expand it to Mumbai and Ahmedabad.

“In Kolkata due to the limited possibility we are looking at a LPG variant and are hopeful to roll out by this year end,” said Saxena.

HMIL is one of India’s fastest growing car manufacturers and largest passenger car exporters. It exports to more than 95 countries,with Western Europe and Latin America and South East Asia claiming the bulk of the share.