Hyundai foresees cut down in car exports this year
Hyundai Motors, the second largest hatchback manufacturer in the country makes its revenue largely through exporting cars to overseas markets. The Korean car manufacturer is known to be the biggest exporter of cars in India,who expoprts to around 115 countries globally. However, the prevalent European crisis is likely to bring down its exports to 2.25 lakh vehicles as compared to last year’s 2.47 lakh units. Hyundai India is known to make its exports to the Western European markets, however, anticipating the figures to come down this year.
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Arvind Saxena, Director and Board Member of Marketing and Sales department of Hyundai Motors had informed the reporters during the launch of their cheapest small car, Hyundai EON on 13th October that they are looking at a production of 1,40,000 to 1,50,000 units of the small car in the coming year. They would concentrate on the domestic sales of the car and later shift their focus on the exports of Hyundai EON to other markets like South Africa and South America. The company has invested a sum of Rs 900 crores in the development and manufacturing the hatchback.
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The much awaited hatchback, Hyundai EON was launched in India on 13th October to take upon the leading volume driver in the segment, Maruti Alto. Hyundai EON project had been contemplated by the Korean manufacturer for four years before introducing the small car into the domestic market. The small car comes equipped with an 814 cc 3-cylinder petrol engine to churn out a peak power of 56 Bhp and a peak torque of 76 Nm at a competitive price range of Ra 2.69 – 3.71 lakhs.
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