The Hindu Business Line : Hyundai Motor aims at 22% market share this year

Hyderabad, Oct. 16 Stepping up production levels with a new manufacturing base, Hyundai Motor India Ltd is aiming at a market share of 21 to 22 per cent during the current year, up from 17 per cent in 2007.

The automotive market could have been much more buoyant, registering a growth of about 12 per cent during the year. However, with the impact on finances and relatively subdued investment sentiment, it is likely to witness an overall growth of 6 per cent, according to a Hyundai executive.

With an enhanced production capacity of 6,00,000 cars an annum, the company plans to manufacture about 5.3 lakh cars during the year, which includes about 2.7 lakh for the domestic market and the rest for export commitments.

Fuel variants

The Director, Sales Group, Hyundai Motor India Ltd, Mr Y.K. Koo, told Business Line that the expansion will enable the company to roll out more models with more fuel options — LPG, CNG and diesel.

The company is in the process of finalising plans for a slew of launches in the domestic market, which includes i20 early next year, an Accent sedan upgrade with a new engine and diesel variant of recently rolled out i10.

After inaugurating a dealership of Hyundai cars at Madinaguda, about 25 km from here, Mr Koo said that the new launch code name, PB i20, with 1.2 litre Kappa engine, is slated for January and would be pitted alongside Getz.

Asked about launch of diesel variants of their models in India, Mr Koo said that they expect to roll out i10 diesel in the first half of 2009. However, the engine will be sourced from the parent company, Hyundai Motor Company.

largest market after Delhi, Mumbai and Bangalore. Therefore, we are adding more dealerships,” Mr Koo said.

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