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Tuesday, May 06, 2008

Hyundai to Launch i20 Car in India in 2008

After winning the heart of many car consumers with Hyundai i10 passenger car, the South Korean auto maker is now planning to introduce Hyundai i20 in Indian car market. Hyundai Motor Company (SEO:005380) is currently the second largest automobile manufacturer in Indian market. Hyundai i10 has seen good response from the India’s car consumer. Now, having understood the increasing demand for small car in Indian market, Hyundai is now contemplating to bring Hyundai i20 on October or November in 2008. The company also has plan to launch new model Hyundai i30 later in the country.

Cartradeindia reported:

The new model shall be placed between i10 and the Accent from Hyundai. Further to its expansion plans, it also plans to bring i30 which shall be placed between i20 and Hyundai Verna. The new model i30 is a long hatchback model that was showcased at the Frankfurt Auto Show.

Hyundai has formed its exporting hub in India. It shall be exporting i20 also from India to other countries to cut the costs. The manufacturing line at Sriperumbudur, near Chennai in Tamil Nadu shall be rolling out the i10 and i20 models. It has a capacity to manufacture 6 lakh units per year.

It is a good initiative taken by Hyundai considering the potential Indian car market, which is considered as one of the emerging car markets in the world. India has cheap labor and a growing economy. Thus, Hyundai can reduce its production cost meaning the company will be able to throw a competitive price for both domestic and global market. So, I think, this is the best time to invest in Indian car market and Hyundai is doing the same thing.


1 comments:

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