Hyundai India eyes 16% growth in 2010

Hyundai Motor India Ltd (HMIL), one of the largest car makers in the Indian market,  today indicated that it is aiming to achieve the volume growth of around 16 percent in the year 2010. The company will match the industry's growth rate of 15-16 percent. Last year its growth rate was 20.8 percent which was due to the lower comparable base of 2008, said Mr Arvind Saxena, HMIL Director of sales and marketing. The company sold around 600,000 units last year.

HMIL has recently launched the new Hyundai Verna Transform in India which was in line with its strategy of rolling-out a new and an upgraded model yearly.  The new sedan is available with two engine variants including 1.6 litre petrol and 1.5 litre diesel. The Hyundai Verna Transform is priced between Rs 6.56 lakh and Rs 9.22 lakh (ex-showroom).

According to company's Managing Director H.W. Park, the company has sold about 82,000 Verna's since its launch in 2008. He added that the car's engine has been retained  butthe exterior and interiors have been changed to give it a sporty as well as a luxurious look. At present, the company manages to sell about 2,000 units of Verna, monthly.

On the question related to the foray of Kia Motors in India Mr park said that it is a sister company run by independent management and he cannot comment on their plans.

Moreover, HMIL plans to launch a 800cc compact-car in India at the upcoming Indian auto expo 2012. The car has been designed and developed after taking into consideration the requirement of the Indian buyers. After its launch, the model will lock horns with Maruti Suzuki's best-selling small car Alto, in India.