Hyundai|Hyundai Motor India Limited} (HMIL), the second largest auto producers of India, has launched six models of cars in its A2 (Small cars), A3 (Mid size cars) and A5 (Luxurious cars) divisions and the fastmoving small cars are Santro Xing, i10 and i20. With its two production plants in Chennai, it can produce more than five lakhs cars, per annum. The small cars i10 and i20 are produced only in the Hyundai plants of Chennai and they are exported internationally. It has an R&D center in Hyderabad to develop their engineering technologies and to change the models of their products according to customers needs.
Hyundai’s domestic sales are rising very fast and it has experienced a improvement of 29% at the end of June 2010. One of its vital milestone in the third quarter of 2010 is, that Hyundai has sold nearly 34,700 cars, in October, which is its maximum sales in India. In the first half of year 2010, HMIL did well in its sales by selling 1,75,120 units. In other countries since new incentives are not given by the Governments, its exports declined 22.1% in June, 2010. This Company , strongly believes that the sales figures will grow in double digits in second half of 2010, and their fresh launch of Verna will assist to improve their growth. Hyundai has made an achievement to export 10, 00,000 vehicles over a short period of 10 years, and this company is exporting nearly to more than 100 nations.
Being a rapidly growing car firm, HMIL aims at a 22% market share in domestic car sales. The continuous demand for Hyundai vehicles has made the firm to expect a major growth in the next financial year. In recent times, HMIL has introduced its much awaited car Santa Fe SUV in India. This high quality car is designed with all the safety engineering technologies like sophisticated braking systems, best computer-aided control systems, emergency airbag systems, etc and definitely, this will be a highly protected car to the people who concern about safety. This company expects that a significant amount of their new vehicle will be sold in the last quarter of 2010. Though Hyundai is successful with the sales of cars like Santro and i10 series, it had a failure in the sales of vehicles like Terracan, Sonata, Elantra and Tuscon. Now, Hyundai is getting readyits new markets in Australia, East, Vietnam and in CIS countries to develop their foreign sales. Dur to the mounting demand for the budget and fuel-efficient cars in foreign countries, HMIL proposals to add Turkey as their alternative manufacturing unit of i10 and i20 cars.
Hyundai alters the styles of cars often, to make the automobiles to satisfy the needs of their customers. It has new policies to introduce the new small car of its “i†series, the i20 mini MPV model which was introduced to public in Geneva auto show. Since this model had similar appearance as Kia YN minivan, Hyundai has started the remodelling of this car. Before 2011, Hyundai has some plans to introduce the five-seat Multi Purpose Vehicle versions of i20 and i30. Hyundai proposals to introduce a new i40 model auto in 2011, based on its Genus Concept. Indian car market can see Hyundai’s Veloster Concept cars with turbo charged 4-cylinder and advanced engineered cars in the year of 2011. Hyundai with its quality is expected to perform well in forthcoming years.
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