Hyundai to reach out to semi-urban, rural areas

Hyundai to reach out to semi-urban, rural areas

Author | exchange4media News Service | Friday, May 20,2005 8:44 AM

Hyundai to reach out to semi-urban, rural areas

Hyundai Motor India Ltd (HMIL) is planning to expand its dealer network from the present 146 to 180 this year to reach out to semi-urban and rural areas and to increase its market share from the present 20 per cent, according to Mr V.D. Bhasin, the senior vice-president.

Mr Bhasin was speaking here on Thursday after inaugurating the second showroom of the company and the ninth in the State - Lakshmi Hyundai — at the Rama Talkies Junction.

He said the company had sold 8 lakh cars during the past seven years and made rapid strides. "Our company has emerged as the largest exporter of cars with an export turnover of Rs 1,700 crore. We are exporting to quality-conscious European and American markets. Our export target this year is 75,000," he said.

He said the company recorded combined sales of 2,15,630 during the calendar year 2004, registering a growth of 43 per cent. The company was planning to expand its capacity to 4 lakh cars by 2007 by setting up another plant in Chennai with a capacity of 1.5 lakh units per annum. The existing plant's capacity was 2.5 lakh units.

He said there were 35 dealers in South India and the market share in the south was 23 per cent. Apart from the popular Santro, the newly-launched Getz was being received well in the market, he said. The new car was selling in the range of 1,500-1,800 per month.

He said Hyundai, which was the seventh in the global rankings, wanted to rise to the fifth position by 2010 and India had to play a major role in it.

The company will commission its first plant in the US on Friday and the unit will have the capacity of 3 lakh cars a year.

Commenting on the proposal by Volkswagen to set up a car unit here, he said the Indian market was big enough to absorb the entry of such major companies. "There is room here for all of us," he said.

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