The Hindu Business Line : Hyundai overtakes Maruti in Q1 exports

HYUNDAI Motors has snatched the top slot from Maruti Udyog to become the largest exporter of passenger cars (including multi-purpose vehicles) in the first quarter of this fiscal.

Hyundai is also expected to cross the Rs 1,000-crore mark in exports in August this year. For 2004-05, Hyundai's exports are projected to be around Rs 1,700 crore, nearly 55 per cent more than the previous year.

"We aim to be the largest exporter in manufactured goods in the calendar year in the non-metullargy and non- refinery sectors in the country," the Hyundai India President, Mr B.V.R. Subbu, told Business Line.

Though Mr Subbu refused to confirm the export figures in value terms, Hyundai's exports for 2004-05, in volume terms, is expected to run close to that of Maruti or it could even emerge as the largest for the entire fiscal.

During the April-June period, Hyundai's exports grew 190 per cent to 13,998 units while Maruti's exports dropped 2 per cent to 12,240 units. Ford continues to be the third largest exporter with 8,447 units and Tata Motors' exports was 981 units and is the fourth largest, according to Society of Indian Automobile Manufacturers (SIAM).

The total exports of all passenger cars during the first quarter grew around 33 per cent. For April-July, 2004, Hyundai exported 20,627 units, Maruti 15,484 units and Ford 10,326 units.

The change in the pecking order can be attributed to Hyundai's parent's move to make the Indian plant a hub for exports of its passenger cars leading to a surge in exports.

Mr Subbu said most of the production problems which led to delay in deliveries of vehicles have been sorted out. "The production has stablised now and the backlog has been cleared," Mr Subbu said.

The decision to make the Indian plant a global hub is part of Hyundai's plan to become one of the top five car makers in the world with global sales of 5 million cars by 2010.

In the case of Tata Motors' exports, its performance lagged as its exports to the UK are affected this fiscal.

Ford, however, expects no increase in exports this year. "We had exported a total of over 24,000 CKD's in 2003 and are on track to achieve the same number this year too," the Ford Vice-President for marketing, Mr Vinay Piparasania, said.

Hyundai displaced Ford as the second largest exporter during 2003 with exports of 30,433 units, a growth of 269 per cent while Ford's exports dropped nearly 18 per cent to 23,836 units.

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