To attract more Indians, Hyundai Motor India Limited (HMIL) is all set to roll out a diesel variant of its premium compact car, the i-20, by the end of the existing year (2009).

The second largest car maker, which has already launched i-20 diesel variant in the European market, is now looking at launching the car in the Indian market.

At the sidelines of a media interaction on the company partnering with Punjab National Bank (PNB) for disbursing auto loans, Mr. Arvind Saxena, Senior Vice-President, Sales and Marketing, Hyundai Motor India Ltd, said, “We will launch the i-20 diesel for the domestic market this year. But we are yet to finalise the engine size.”

Presently, HMIL sells i20 with 1.2 liter Kappa petrol engine in the domestic market.

In the international market, Hyundai already sells i20 with 1.4 liter and 1.6 liter diesel engines.

Bringing Hyundai i20 with 1.4 liter diesel engine will qualify the company to gain from the lower excise duty on compact cars.

Hyundai, which had a target to sell 2,000 units of its i20 on an average on a monthly basis, pocketed an order of 2,500 units in January 2009.

The company has already delivered 1,700 cars, and the remaining will be sold in February.

While commenting over the industry viewpoint, Mr. Saxena said the market was likely to remain flat during the quarter.

HMIL has joined hands with PNB to respond to the situation of reduced financing. The bank will offer Hyundai customers an interest rate of 11 and 11.50% depending on the credit worthiness of its borrowers.

Earlier, HMIL also tied up with Syndicate Bank for a similar project.

At the Southern Region Annual Award Presentation by the Engineering Export Promotion Council (EEPC), HMIL has been awarded the ‘Top Exporter of the Year Award’ for 2006-07 under the category of ‘Large Enterprises’ and presented the Gold Trophy.

The award was in appreciation of Hyundai's brilliant contribution to Engineering Exports during the year 2006-07.

Mr. Kim, Regional Manager, South, Hyundai Motor India was presented the award by Shri Elamaram Kareem, Hon'ble Minister for Industries, Government of Kerala, at a function held in Thiruvananthapuram.