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Hyundai New Plant At Rs400 Cr Investment
At an investment of Rs400 crore, the Hyundai plant will be made operational in 2013 and 2014. The new engine will be for the new models barring a few for the existing models. With nearly 10% of the net sale is constituted by diesel cars , Hyundai currently imports engines from its Korean unit which are fitted in its i20 and Verna. With another investment by Hyundai, he added, there will be increase in the annual capacity from 2011, from 6.3 lakhs to 6.7 lakhs. This will be on par with three new models slated for every year to meet the demand in the Indian car market, he said.
By 2011, the annual capacity will be increased to 6.7 lakh units which will include models from all segments to be made in India. The company"s Director for sales and marketing said that the target for this FY is 6lakh units from which 3.56 lakh units to be of domestic sales. This comes against the sale of 5.6lakh units last year and based on this the target for 2011 is set as 6.3 lakh units. He said in 2010 the company had to forego the export units due to the grown demand in the domestic market itself. Hence the sale volume for 2011 will be around 4 lakhs in the domestic market. The launch of its proposed new car Park, 800cc on the lines of Santro will be anytime in 2011 or early 2012, he said.
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