Hyundai to Invest INR 800 cr for Small Car !
Posted on November 18th 2009Welcome back!
Hyundai Motor India Limited (HMIL), the South Korean Car Maker on Tuesday said that the company was now manufacturing another small car model by investing approximately INR 800 cr for India. However it didn’t disclose the other details & launch date for this car.
Our Korean parent is now working on the new car. It will be smaller than Santro and priced lower than Santro. It will be totally cutting edge technology, well designed car for the Indian customer.
- Mr. H. W. Park (MD, HMIL) said.
This plan is in line with the company’s approach to boost its revenue shares from the domestic market as well. The current domestic sales to export ratio of the company is 50:50, and Mr. H. W. Park expects to change it to 60:40 in 2010.
The company is also planning to spread its dealer network from 240 to 320 number in 2010. This will help it to maintain the market shares of 21%.
By editor in Auto Finance, Auto India News, Auto Industry News, Hyundai