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South Korean carmaker Hyundai Motor India Ltd (HMIL), the second largest car brand in India, is aiming to reach production milestone of 10 million units during the first-half of 2021.
The company on Monday marked the production of its eight-millionth car at its factory in Irrungattukottai near Chennai, since it commenced production in India in 1998. The eight-million production milestone has been achieved in its 20th year of operation in the country.
“Today marks a momentous and landmark day in the history of Hyundai Motor India, with the achievement of 8 millionth milestone. Hyundai is the only manufacturer to achieve this feat in the shortest span of time. We will be launching a series of activities and emotionally connecting campaigns to mark the 20th year of excellence in sales and production in India,” said YK Koo, Managing Director and CEO, Hyundai Motor India Ltd.
Since inception, Hyundai Motor India has sold 5,300,967 units in the Indian market and exported 2,703,581 units.
HMIL rolled out its first million car, a Santro, in 2006, just eight years after commencement of commercial production in 1998. During the first 10 years, the company achieved 2 million units, while in the following decade it recorded production of six million units.
Over these years, Hyundai managed to establish itself as a company, only after Maruti Suzuki, to sell many class or segment leading models in the passenger vehicle market in India.
In a reflection of its popularity, Hyundai has been the only Indian auto manufacturer to have won five Indian Car of The Year (ICOTY) Award for its i10, Grand i10, Elite i20, Creta & next-gen Verna.
Upbeat on exports
The company has also been a leading car exporter from India. Today, the company has significantly contributed to 40 per cent of passenger vehicle exports from India with a volume of 2.7 million vehicles since the year 1999.
Hyundai currently exports India-built cars to over 88 countries across Africa, West Asia, Latin America and the Asia-Pacific.
Hyundai has planned to launch nine models between 2018 and 2020 in the Indian market starting with its much-awaited new small car during the second-half of this year. It is also planning to launch a compact SUV next year.
The new launches and along with the continuing sales momentum for some existing models are expected to help Hyundai achieve its targets.
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