The second largest domestic player in the passenger cars segment and largest exporter in the Indian market, Hyundai Motors India is now planning to tap new export markets to drive its future growth as the withdrawal of the cash-for-clunkers schemes (scrappage incentive scheme) has left the company to look for new options rather than its overdependence on the European economies.

Though, the company expects flat growth in exports in this year but it has to look at new markets to match the he export figure of 270,000 units that it achieved in the calendar year of 2009.

Arvind Saxena, director (marketing and sales), HMIL said that the recession for the developed economies is still not over and the environment is very challenging. Saxena also pointed out the fact that the company will either stay flat in terms of export growth or file a single digit growth this year.

Moreover, Saxena also mentioned the fact that the company is planning to grow its exports markets as it is looking to add 10 new countries this year that it expected to balance off some of the stagnant numbers the company might see in the established markets.