Hyundai Targets 4 Lakh Car Sales

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Hyundai, the South Korean carmaker is eyeing a target of more than 4 lakh units this year in the Indian market.

Y.J. Ahnwl, the Executive Director of Hyundai India said, "We are touching for the first time 400,000 car sales in the domestic market in India. By the year end, we might touch 420,000. Apart from this, we are looking to export 2,00,000 units."

Currently, Hyundai enjoys 16.45 percent share in the Indian car market and is looking to grow by nine percent next year. The company has not yet made any plans to ramp up its production as well.

The South Korean automobile manufacturer is also looking to launch two new vehicles, during the first quarter of next year and give the Elite i20 a renewed look by the third quarter of 2014.

"Hyundai is having only high-end SUVs in India. We are entering the new segment with the launch of a compact SUV next year," said the Executive Director.

During next year, Hyundai, the second largest carmaker by sales in India is looking to enjoy 17 percent of market share in the country.

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Story first published: Tuesday, November 25, 2014, 12:20 [IST]
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