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The Eurozone crisis is likely to bring down Hyundai Motor India’s exports to 2.25 lakh cars this year as against 2.47 lakh last year, a top company official said here on Monday.
“We have been exporting more cars to the west European markets, but now the situation is not good. We may export fewer cars this year,” said Mr Arvind Saxena, Director and Board Member, Marketing and Sales, Hyundai Motor India. The country’s largest passenger car exporter (it exports to over 115 countries) targets to export 2.25 lakh cars this calendar year.
The auto major today launched entry-level compact car Eon at introductory price of between Rs 2.69 lakh and Rs 3.71 lakh (ex—showroom Mumbai). Eon, which will compete with Maruti Suzuki’s best—selling model Alto, is powered by an 814—cc petrol engine. The company has invested Rs 900 crore in development and production facilities for the Eon.
Hyundai plans to produce between 1,40,000 and 1,50,000 Eons in the next one year, Mr Saxena added.
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