Hyundai to increase production & export more

Hyundai to increase production & export more
PTI
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First Published: Thu, Sep 04 2008. 01 17 PM IST
Updated: Thu, Sep 04 2008. 01 17 PM IST
New Delhi: Hyundai Motors India Ltd today said it is planning to increase production as the company aims to export more to the overseas market.
“We will be beginning the third shift operations at our factory in Chennai. By next year our overall production would be six lakh units,” Hyundai Motors India Managing Director and CEO H S Lheem told on the sidelines of the 48th SIAM Annual Convention 2008 here.
Hyundai would start the third shift by October onwards.
He said the company has a lot of back orders for exports and hence it requires ramping up of production.
“Earlier our domestic sales accounted for about 58 per cent of the total sales and the rest came from exports. But now we see a 50-50 contribution from both domestic and overseas sales,” he added.
The company is targeting to sell about 5.30 lakh units this year. Last year, it had sold about 3.30 lakh units out of which about 1.15 lakh units were exported.
Hyundai would also launch compact car i20 by November.
Lheem said the government must support automotive companies who were exporting huge quantities from India to make it become a global small-car hub.
The Automotive Mission Plan 2016 had outlined measures to make India a global small-car hub, but there has been no support coming from the government to help companies export in large numbers, he said.
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First Published: Thu, Sep 04 2008. 01 17 PM IST
More Topics: Siam | Hyundai | Exports | Production | I20 |