Hyundai Motor India Ltd (HMIL) has targeted a 25 per cent market share by 2005. The company also hopes to sell around 1.5 lakh passenger cars in 2003-04 against 1.12 lakh units sold in the previous year.
Last year HMIL clocked a Rs 4,000 crore turnover which is likely to increase to Rs 5,300 crore in the current year.
"This year we expect our market share to touch 20 per cent," said Bong Gou Lee, executive director, marketing & sales, Hyundai.
HMIL's installed capacity stands at 1.5 lakh unit cars a year which is being increased to 2.5 lakh at an investment of Rs 1,000 crore next year.
Bulk of the capacity expansion will be financed out of internal accruals and the rest of it will be sourced from financial institutions in the form of debt.
Lee said,
