Hyundai, India’s second-largest car maker is planning to boost its production by over 18 per cent in the current year. Hyundai Motor India is targeting a 10 per cent jump in sales and expects a revival in the market in the second half of 2009.
The Korean automobile giant is planning to launch its sports utility vehicle (SUV), the Santa Fe, in India next year. Moreover, it is exploring possibilities to roll out a smaller car than the Hyundai Santro in the Indian market. The company will also start producing diesel engines by 2010.
"In the first half of 2009, the domestic market was flat, but we are seeing positive signs of revival of the market and we are expecting it to pick up in the second half. Our target is to produce 5.8 Lakh units in 2009," said Hyundai Motor India Managing Director and CEO Heung Soo Lheem.
The company had produced 4.9 Lakh units last year out of a total installed capacity of 6 lakh units a year. Lheem added, "Our exports grew by over 22 per cent in the first half. We expect to maintain the same rate and are targeting to sell three lakh units in the overseas markets. We are also hoping that the domestic market will surely improve." He also said Hyundai is aiming to close the year with an overall jump of about 10 per cent.
Hyundai has successfully launched the Hyundai i20 Diesel and i20 Automatic on 7th July.