Hyundai Motor India (HMIL) is targeting to sell five lakh vehicles in the domestic market in the near future. This it expects to do with launch of new products, including entering into new segments.

The company will utilise its Chennai facility to meet the demands.

“We can expect to achieve the target (five-lakh units milestone) soon. But, it will also depend on the market situation,” BS Seo, Managing Director and Chief Executive Officer, told reporters here.

HMIL had sold 4.11 lakh cars in the country last year and new cars like Elite i20 had helped grow its market share as well. It had also exported 2.01 lakh units to around 85 countries.

The company’s plant in Chennai has a capacity of manufacturing seven lakh cars a year and it is utilising 99.8 per cent of the capacity right now, he said. HMIL now has 6.80 lakh units which can be expanded up to seven lakh units a year.

“We will continue to focus around effective products with new design philosophy and high-quality products,” said Rakesh Srivastava, Senior Vice-President - Sales and Marketing.

Keeping in mind such thoughts, the company launched the new Verna sedan on Wednesday priced between ₹7.74 lakh and ₹12.20 lakh (ex-showroom, Delhi).

While there is no change in the engines (1.4L and 1.6L petrol as well as 1.4L and 1.6L diesel), the company has made some changes both from outside as well as inside to the all-new 4S Fluidic Verna to make it premium, stylish and safe.

Launched first in 2006 and a refresh version in 2010 and 2011 (Fluidic), HMIL has sold 2.78 lakh units in the Indian market so far.

Verna, which is sold globally by Hyundai Motor Company, has 23 lakh cars running on road today.

Related Topics
comment COMMENT NOW