Business Daily from THE HINDU group of publications
Friday, Sep 05, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, Sep 05, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Outlook Hyundai expects to sell 20,000 units of i20 by year-end Our Bureau New Delhi, Sept. 4 Hyundai Motor India would start production of i20 by October which is expected to be launched during the coming festive season. The company’s Managing Director and CEO, Mr H. S. Lheem said that he was expecting a sale of 20,000 units of the new model by the end of the year which includes sales in the domestic as well as export market. The company also said that with robust demand from the export market, the company would be starting the third shift of its production from its plant near Chennai. Export orderTalking at the sidelines of the SIAM annual convention, Mr H S Lheem said, “We are having a huge export order backlog. We will start with the third shift of production by October.” He also said that the demand from the domestic market was likely to be static and the growth would be mainly from overseas market. “Earlier we had 60 per cent domestic sales and 40 per cent exports. But now our sales is equally divided between the two markets,” he said. Hyundai, which is the country’s largest passenger car exporter has sought government support in making India a hub for small cars. He expressed his disappointment that despite the Government’s intention to make the country a hub for small car exports, there were no schemes being offered to incentivise export or give any kind of support to manufacturers. The company, that sold 3 lakh units last year, expects to clock a sale of 5.3 lakh units during the current year. With regard to the company’s plans to enter the commercial vehicle segment, Mr Lheem commented, “I don’t have the energy.” Car buyers will have more to choose from Hyundai plans LPG models for Santro, Accent More Stories on : Outlook | Cars | Exports & Imports
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