Hyundai India to launch one new car every year

Hyundai India, the top car-exporter and second largest car maker in the country, has decided that it will come-out with at least one new car in India every year, as it is planning to expand its business in smaller cities along with increasing the share of localise content in its cars in India.  

Mr Han Woo Park, Managing director of Hyundai, said, while briefing to the reporters that company's plan is to introduce more than one new model every year and refurbish more than one existing model to gain market share. In addition the company will expand its dealership for deeper market penetration in India, he added. It is to mentioned that at present Hyundai India has a manufacturing capacity of 600,000 cars per annum, at its Chennai plant.

The company registered a growth of 20.8 percent in its India with selling 600,588 units of its cars, last fiscal. The company is number one car exporter from India since last six consecutive years with selling its cars in about 110 foreign countries, including regions like EU, Africa, Middle East, Latin America, Asia and Australia. 

At present the company has around half a dozen vehicles in its India portfolio, that includes- Hyundai Santro Xing, Hyundai i10, Hyundai i20, Hyundai Accent, Hyundai Verna and Hyundai Sonata Transform.