Hyundai aims to double output by mid-2007

Hyundai Motor India Limited (HMIL) is optimistic about multiplying its annual production of vehicles in India from the existing 3 lakh to 6 lakh by mid-2007.

In order to achieve the target and secure its growth in India, the company has aimed at customer satisfaction, brand loyalty and new car sale, said H S Lheem, managing director, HMIL, who was here for the inauguration of a Hyundai showroom, service centre and repair unit, 'Alcon Hyundai'.

With the recent launch of its sedan Verna, the company has announced its plans to set up a second plant in Chennai, which will produce 300,000 units per annum, raising HMIL?s total production capacity to 600,000 per annum by 2007.

HMIL will also increase its dealer network from 162 to 200 this year, an indication of the growth of the company in India where car sales registered a 7.55 per cent growth in the past year.

"The inauguration of this dealership in Goa is part of our strategy to make our network stronger and make the advanced technology accessible to our valued customers," he said.

With this, Lheem further said, the compact segment volume of the HMIL was likely to grow 30 per cent by the end of the year. "Hyundai is the preferred car in the middle income group, besides higher-class. These segments would be fully tapped in Goa," he added.

The Alcon Group of Companies has diversified into the automobile sector after successfully venturing into construction, housing, hospitality, manufacturing, trading and electronics. The dealership comprises a large showroom and a fully equipped workshop.