Hyundai to increase production in India

India's second largest auto manufacturer, Hyundai Motor India Ltd (HMIL) is planning to increase production in India. Hyundai plans to increase production capacity to 580,000 cars this year, to become the number one player in the India's growing auto market.

Managing Director and Chief Executive Officer, Hyundai Motor India Ltd, Heung Soo Lheem said that last year Hyundai produced around 490,000 cars and made up 24% of the total Indian automobile market compared to 17.7% in 2007. He added that the total sales of HMIL of last year was around US $4 billion.

For this year the company had projected earlier, a production of 550,000 cars. But, due to healthy demand and positive response to the recently launched Hyundai i10 and Hyundai i20, especially from the domestic market last year, we are now targeting to manufacture up to 580,000 cars. he added

Hyundai Motor India Ltd currently sells locally and also exports seven models, Hyundai Santro Xing, Hyundai Getz Prime, Hyundai i10, Hyundai i20, Hyundai Accent, Hyundai Verna and Hyundai Sonata Transform across the world.

Heung said HMIL's parent company, South Korea's Hyundai Motor Company, has decided to increase production of its small cars in India this year and would made India the company's global small car hub.