Hyundai plans to produce more cars for Indian market

In order to meet the constantly increasing domestic demand,Hyundai Motors India Limited will soon produce 0.7 lakh more cars this year. H.W. Park, chief executive, HMIL, confirmed that the company will  increase its production capacity by 0.7 lakh units at its factories to meet the growing demand.

At present Hyundai Motors India produces six lakh units annually at its Sriperumbudur and Tamil Nadu plant. The company will also make some minor investments to increase the production capacity. HMIL is also planning to reduce its exports by around eight percent because the global car demands are slowing down. The country's second largest car manufacturer, HMIL, exported 2.71 lakh units last year to 110 countries across Africa, Europe and Latin America.

According to the industry sources, the export target of the company for this year is fixed at 2.5 lakh units. This is a little less than last year. Hyundai Motors india now wants to focus more on meeting the domestic demand.