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Hyundai Begins Exports With Eon This January Onward


Date : January 10, 2012	Number of Views : 100

Hyundai Motor India Ltd, the country’s second largest car maker by sales, has started exports of its compact model Eon in January, said Managing Director and Chief Executive.

The Indian unit of the Korean car maker, the largest car exporter from India, plans to export the Eon to South America, Asean (Association of Southeast Asian Nations) countries and South Africa, Hyundai Motor India Managing Director and Chief Executive said.

Pitted against Maruti Suzuki’s A-star and Alto, Hyundai launched the Eon in September. The model has been selling about 8,000 units on an average every month, he said. “We plan to take it to the 10,000 level soon,” he added.

Hyundai exports cars to 120 countries from India. It sold 616,039 units in the domestic and exports markets last year, 3.6% more than the preceding year.

Separately, elaborating on the company’s plans of setting up a diesel engine factory in India, he said Hyundai will take a decision after the Union budget that is expected to be presented in mid-March. Car makers in India are worried that a possible tax on diesel vehicles in the budget may affect demand.

Hyundai imports diesel engines for all its models, including i20, Verna and Santa Fe from its parent, but makes the petrol ones locally. The company has been struggling to meet the demand for diesel cars due to shortage of engines, he said. “We have limited supply and are in talks with Hyundai Motor Corp. and trying to import more engines,” he said. Sales of diesel cars in India rose 23% in the first eight months of the current fiscal.

News Category: Automobiles

News Type : Market News

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