Hyundai Motor India has officially announced that they will cut down on exports and allocate 70,000 units more in 2010 to satisfy local demand. Hyundai’s current annual capacity at its Sriperumbudur plant near Chennai is 6,00,000 which will be raised to increase production. Hyundai will make the required investment and changes. Hyundai is shifting focus to the local market as global demand slides after scrappage schemes come to an end in Europe. Last year, Hyundai exported as many as 2.71 lakh cars to over 110 countries and plans to export 8% less in 2010.
H.W. Park, chief executive, HMIL said
“We will increase our production capacity by 0.7 lakh units at our factories to meet the rising demand. We will make minor investments for the increase in production capacity. Our export target for this year is fixed at 2.5 lakh units, which is slightly less than last year. We want to focus more on meeting the domestic demand.”
Tata ousts Hyundai to become India’s 2nd largest car maker Jul 2010
2010 Hyundai i10 facelift india Jul 2010
Hyundai Verna Transform launched Jun 2010
Hyundai i10 eats 19.81km of road for every litre of petrol May 2010
Hyundai planning to set up diesel engine plant in India May 2010
[ET]
Related Reads
Hyundai’s upcoming 800cc competitor to the Alto is well on track. Hyundai are planning to laun ...
We were just telling you how the Ford Figo has sent the Hyundai i10 searching for cover (which ...
[caption id="attachment_5200" align="aligncenter" width="450" caption="Figo seems to have ca ...
[caption id="attachment_3004" align="aligncenter" width="450" caption="Tucson might well be repl ...
Thanks to Indian Cars and Bikes, we are able to bring you exclusive spy pictures of Hyundai ...
Mahindra Xylo Refresh launched at Rs.7.37 lakh
Chevrolet revamps the Captiva and introduces the Tavera Neo3
New Mahindra Xylo debuts on Wednesday!
New Honda Dio Scooter launched
Maruti Suzuki launches the 2012 version of the DZire
That’s an intelligent step….exports can wait.