Hyundai sees India as major export hub

Hyundai Motor India Limited (HMIL), a subsidiary of South Korea's Hyundai Motor Company, will turn into a major export hub with the company planning to shift the export of Getz Prime from the Korean plant at Seoul. Other than Korea, Getz Prime is being presently exported from the company's Chennai plant.

Arvind Saxena, vice president, marketing and sales, HMIL said, "At present, we are in the process of expanding the capacity of our Chennai plant to 600,000 units per annum, which will be completed by the end of 2007. Once the plant is ready, we will shift the entire export of Getz Prime from Korea."

At present, Hyundai is exporting 100,000 units of Getz Prime from its Korean plant to Europe and has set a target of exporting 40,000 units from its Chennai plant this year. From next year onwards, it plans to export Getz Prime only from its Chennai plant, Saxena told Business Standard.

During the financial year 2006-07, Hyundai India exported 115,523 units to over 19 countries, a growth of 13 per cent over the previous financial year. This included 105,000 units of Santro and 10,000 units of Hyundai Accent. During 2007-08, the company plans to export 150,000 units, a rise of 30 per cent over the previous financial year. Getz Prime will be the new addition to the bouquet of exports from India. However, the company will increase its thrust on the export of Getz Prime from 2008 onwards.

The expansion of the Chennai plant will enable Hyundai to double its installed capacity to 600,000 units per annum, of which 50 per cent will be exported, he said. Already, Hyundai has developed Chennai as its hub for the export of Santro.

For the domestic market, Hyundai India has set a sales target of 340,000 units during 2007-08. This will be possible with the completion of its expansion at Chennai, Saxena said.

The company sold 310,000 cars in 2006-07, a growth of 19 per cent over the previous financial year. It plans to sell 30,000 units of Getz Prime in the domestic market this year. The company plans to launch the diesel version of the Getz Prime in the domestic market in the third quarter of this calendar year.

Getz Prime is priced between Rs 3.88 lakh and Rs 5.25 lakh in Bangalore (ex-showroom).