September 15, 2008

Hyundai Motor India Wants to Become No. 1 Car Manufacturer in India

Hyundai Motor India wants to become India’s no. 1 car manufacturer replacing current market leader Maruti Suzuki. Hyundai Motor India is currently at no. 2 in India’s domestic car market in terms of market share. Hyundai Motor India Limited is a subsidiary of South Korea based auto giant Hyundai Motor Company. Hyundai India currently holds 22 percent of total car market in India.

Hyundai Motor India, however, has been the major exporter from Indian market. The company experienced a huge success this year thanks to its new hatchback compact car, i10, a model Hyundai is currently exporting to 96 countries from India. By the end of this year, Hyundai will launch its upcoming i20 model that will be followed by i30 as well. The company is now planning to make India its export hub for small car.

Merinews reported:

HMIL said in a statement, "We hope to become the Number One car major." The company’s current market share in the domestic car market stands at 22 per cent and it hopes to raise that bar in due time.

Aiming to become the largest car manufacturer of India’s fastest growing car market, Hyundai Motor India has made an excellent decision. The potential of Indian car market is still vastly unearthed and the market will keep growing for a number of years now. Indian has the second largest population in the world. So, if Hyundai can continue tis success at this rate, then it is very possible for Hyundai to outdone Maruti Suzuki that currently holds 40 percent of market share in India.