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.

Hyundai Motor to Reach 2 Million Sales Mark in India this Year

Hyundai Motor India Ltd. is aiming to sell over 2 million vehicles this year in Indian car market. Being the largest car exporter in India, Hyundai Motor India is now eyeing on increasing its sales volume in the domestic market, besides expanding its global market share. So far, the automaker sold 1.91 million vehicles this year and it is pretty much confirmed that the sales volume would easily exceed 2-million mark by the year end.

The South Korean automaker might experience a surge in its sales once Hyundai i20, the company’s upcoming model, will hit the Indian market by the end of this year. Hyundai Motor is India’s second largest car maker in terms of sales volume and the company has seen extensive growth over the last ten years since it started its activities in India’s fastest growing car market.

Earlier this year, Hyundai launched i10 model that brought huge success for the car maker both in Indian as well as in other markets. At present Hyundai i10 is being exported to 96 countries from India. Hyundai is now planning to make India its export hub for small car. In February, Hyundai Motor opened its second manufacturing plant in Indian market, taking its annual sales volume to 600,000 units. It is clear that Hyundai is fascinated with Indian car market for a number of reasons. First of all, the production cost in India is much less than the cost in many other counties due to cheap labor. Secondly, Indian car market is increasing very fast and will keep increasing for a number of years to come. That means, Hyundai has the opportunity to grab more market share in India.

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Chintels India Ltd. is going to invest Rs. 18 billion in New Delhi

Famous Indian real estate firm, Chintels India Ltd. is planning to invest Rs. 18 billion in the next six years in Northern India. The company is aiming to earn Rs. 4 billion in revenue in that time period. Prashant Solomon, joint managing director, Chintels India Ltd. said:

"Seeing the potential in North India, we have decided to invest up to Rs 1,800 crore in the next six years, which will be put in residential, office, retail and SEZ projects,"

In New Delhi, the company is going to develop five commercial projects and few farm houses covering more 31 acres in the National Capital Region (NCR). The five commercial properties comprise of 3.9 million sq. ft. and the entire construction will finish within next 5/6 years.

The five commercial projects would cost Rs.9.15 billion. The money would be funded through equity and a debt ratio of 2:3.

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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.

Sify.com 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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BSNL will allow private companies to use its network

Another great news for mobile phone subscribers in India. Now,

Bharat Sanchar Nigam Limited, the largest tele-communication company in India, is going to allow mobile companies to use its networks around the country under agreement. If this happens, mobile phone users in India will not have to use SIM card. Times of India:

In a Management Committee meeting recently, the PSU approved a proposal in this regard. "The MoU in this regard may be signed with the seeking operators initially for six months only on non-exclusive and experimental basis," a BSNL internal circular of the Management Committee meeting said.

The committee said that only the idle capacity of BSNL’s network will be used to generate revenue. At present, the management committee decided to charge

Rs. .52 per minute for each outgoing call.

Swan Telecom is going to be the first company to sign a roaming agreement with BSNL. BSNL will review the charge after six months. Based on the volume of business, BSNL then think of increasing or decreasing the charge.

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The Times of India

Microsoft's price cut puts Xbox 360 on the top spot in the console market

After observing lower sales for the first six months of 2008,Microsoft Corporation (NASDAQ:MSFT) lowered the price of its Xbox360 consoles and the strategy worked in their favor. The company regained the top spot in the competitive gaming console market replacing Sony Corporation’s (TYO:6758) PS3. On September 12, 2008, Microsoft cut its console price for the second time.

In August, Microsoft sold 195,200 units making it the top seller in USA. It also took the top spot in terms of game software sales. Madden ’09 which was sold with Xbox 360 was sold one million units,Soul Calibur IV sold 174,000 units and Too Human sold 168,200 units.Microsoft’s price cut ranged between $50 and $80 based on the models. Currently, the Xbox360 model cost $199. This is the cheapest next generation gaming console in the market.

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arstechnica.com

India observes an increase in industrial output

Despite high inflation rate and global credit crunch, Indian industry sector observed a rise in its industrial output in July 2008. According to the data, industrial production rose by 7.1%. In a poll organized by Reuters, the July growth was predicted at 6.5%. IBN Live.com reports:

Industrial output is geared mostly to the domestic market, accounting for about a fifth of GDP, and economists were divided on whether it was strong enough to prompt another tightening by the Reserve Bank of India (RBI) at a rate review in October.

"Given the recent trend as far as manufacturing prices inflation is concerned there is still scope for RBI to go with that one last hike in October," says, head of Indian and ASEAN economics at Macquarie Capital Securities, Rajeev Malik.

Compared to 2007, manufacturing output increased to 7.5%, capital goods production 21.9%, consumer goods production 7.3%, and consumer durables 11.2%.

The Reserve Bank of India raised interest rates three times in June and July due to double digit inflation which resulted into a record hight 9% increase in the interest rates at which RBI lends money to the banks. The good news is that annual inflation rate, which went up by 12.6% in early August, came down to just above 12% by the end of that month which has led to considerations among economists that RBI may not increase its rates again,

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