HMIL Eyes To Sell 3.40 Lakh Cars In India This Year

HMIL Eyes To Sell 3.40 Lakh Cars In India This YearIndia's second biggest auto maker Hyundai Motor India Ltd (HMIL) announced that it aims to sell 3.40 lakh cars in the Indian market this year (2010).

HMIL also eyes to export around 2.55 units.

HMIL Managing Director and CEO H W Park said, ''We expect to sell 3.40 lakh cars in India in 2010.''

In the year 2009, HMIL had sold around 2.90 lakh cars in India and exported 2.59 cars.

Mr. Park also said that HMIL has contracted its exports objective as it is concentrating more on Indian market to meet the increasing of its cars.

Moreover with the majority of the European nations stopping the 'scrappage scheme', HMIL's exports will be back to the average level.

Hyundai also stated that the company is considering amplifying its manufacturing plant in Chennai by adding up another 70,000 units.

The Chennai facility presently has an installed capacity of fabricating 6 lakh units annually.

The company also said that it has no instant plans' to raise the rates of its products because of growing input costs.