September 15, 2008

Hyundai Contemplating i10 Export to U.S. Market?

Hyundai Motor India Limited (HMIL) is planning to export compact car to U.S. market. The South Korean auto giant has already made a strong presence in India’s fastest growing car market and has been the largest car exporter in India. No Indian automaker could yet step into US market, but Hyundai is seriously considering US market as its next big export destination in the world. Though the company has not revealed the model/s it is going to export to US from India, Hyundai i10 seems to be perfect product to venture into the world’s largest car market. reported:

H S Lheem, managing director of Hyundai Motor India, said the company is looking to tap the US market and is conducting a feasibility study. "We have begun to study the possibility of exporting cars to the US but this will not happen immediately. It will take time," he said.

Hyundai i10 is a compact passenger car with hatchback design which is exclusively manufactured in Hyundai Motor India’s Chennai plant and exported to 96 countries across the world. Hyundai i10 has seen extensive success in Indian market since its launch earlier this year. The company will roll out Hyundai i20 by the end of this year. Hyundai i20 will also be manufactured in the company’s manufacturing plant in India and will be exported around the world.

Hyundai i10 might gain some instant attraction in the US car market due to its fuel/ gasoline efficiency. i10 can run 54 miles per gasoline- meaning an excellent fuel efficient car. Surging fuel price in world market has decreased the demand for luxurious car in the US and the demand for compact cars is increasing now-a-days. So, Hyundai i10 could be an eye-catching product for the US market.

As Hyundai i10 is manufactured in India, the manufacturing cost is much less than its competitors. So, the price tag that will be attached to i10 is also expected to be competitive in the US market. For exporting to the US market, manufacturers need to add some features to Hyundai i10 for safety concern in what the weight of the car would be increased by 400 pounds.

However, as I mentioned earlier that it is not yet confirmed which model the company is going to export to US. At this moment, Hyundai Motor India is currently manufacturing Santro, Getz and 'i10' models from its Chennai plant. The South Korean company is now planning to make India its export hub for small cars.

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