Hyundai to enhance manufacturing capacity in India
Hyundai Motor India Limited (HMIL), the second largest car maker in the Indian market has announced that it will increase the manufacturing capacity at its Chennai facility by up to 12 percent. The company plans to take the production capacity of this plant to 6.7 lakh units as against current capacity of about 6,00,000 units. At present, the company is witnessing a steep rise in the demand for its cars in the Indian market and to match-up with this rising demand, it has cut-down its exports by about 8 percent from the country. According to Mr H W Park, Director at HMIL, the company is expecting to sell as many as 3,40,000 units of its cars in the Indian market in this calendar year along with exporting 2.50 lakh units of its vehicles from India.
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Conversely, the company is registering a considerable fall in the demand for its cars in the European market due to the ending of the Scrappage Schemes by the governments of European countries. Under these scrappage schemes, the governments of European countries were offering incentives to the car buyers who were looking to exchange their older vehicles for brand new cars.
Meanwhile, the company has launched a new face-lifted Hyundai Verna Transform in India. The new Verna Transform is comparatively more powerful, more elegant and more specious than the older version of the same. With this, the company is in the process of launching its much awaited luxury SUV Hyundai Santa Fe in the Indian market by this year end. It is also developing an 800 cc small car for the Indian market which will be rolled-out in the country by year 2012.
The company sells some of the most popular cars in the Indian market including Hyundai Santro Xing, Hyundai i10, Hyundai i20, Hyundai Verna and Hyundai Sonata Transform.
Read More on : Hyundai Verna review
