Hyundai markets eyes domestic segment as growth area

Hyundai-MotorOne of India's leading car manufacturer, Hyundai Motor India has informed that it will now eye more growth from the domestic market. It has shifted its focus from the international markets to Indian markets and is thus less worried about the export-side of sales.

It also said that it will reduce the number of shipments that form part of export by as much as 8 per cent this year.

Meanwhile the production of the automaker has increased and so has the capacity.

Said MD, HW Park that they are making small yet critical investments, to make the production capacity increase from 6.7 lakh units per annum. Out of this only 2.5 lakh units will be exported and the rest is going to be sold in India itself.

The decision has been taken since the demand for cars in India is increasing manifolds and Hyundai is unable to suffice it.

As per the estimates, it will increase the existing capacity by 12 per cent and manufacture 6.7 lakh units. In the month of July, Hyundai sold 50,411 units as against 45,539 units for the corresponding period last year.