India's biggest car maker Hyundai Motor India Ltd (HMIL) announced that it will roll out three new cars each year for the next three years.

This announcement was made by company's managing director and chief executive officer H W Park on Friday.

While announcing the launch of the company's Next Gen i10, he stated, "Our endevour is to come out with three new cars every year for the next three years as domestic market demand is increasing and we want to encash it.''

Mr. Park also said that out of the total 5.81 lakh units made at the company's Chennai facility in 2009, around 50% were exported and since there was sluggish mood in Europe and owing to growth in Indian demand it had been planned to focus more on to meet up Indian demand.

''Hence, of the total 5.95 lakh units sales projected for the fiscal year, only 2.55 lakh would be exported and remaining 3.40 lakh would be for meant of domestic sales,'' he said.

He stated that the company's dealership network would be augmented from 296 to 320.

The company will also open 130 sales branches.

While answering a query, he said ''We are not looking to come out with parallel to Tata's Nano. We are also coming out with small car but have not set time frame.''

The Next Gen i10 will be available in eight different colours and the ex-showroom price in the Bangalore region begins from Rs 3.41 lakh.

After the completion of festive season, the price of the car may surge.