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  • Hyundai to launch Santa Fe by year-end; new models next year

    Published on August 5, 2010

    India’s second largest carmaker Hyundai India today said it will launch the premium SUV Santa Fe by the end of the year and new models next year to consolidate its presence in the market.

    “In the coming year, we will launch new products with cutting-edge technology,” Hyundai Motor India managing director and chief executive Hang-Woo Park said in Chennai.

    The Korean car major, which entered the country in 1996 with its flagship model Santro, now offers various models, including compact car i10, i20, midsize sedan Accent and Verna and premium sedan Sonata.

    “We will continue to build brand Hyundai here and bring in the best of products and technology,” he said after flagging off the company’s 30th lakh car from its plant in Sriperumbudur.

    Declining to elaborate on the segments the company will focus in the times to come, he said, “I will be able to give more details at the time of the launch”.

    The first step in this direction was the launch of premium sports utility vehicle Santa Fe, which the company is planning to introduce by end of the year.

    On whether the company will utilise its existing plant capacity at Sriperumbudur, he said it may require “minimal investments” to attain full capacity.

    The existing capacity of the two plants at Sriperumbudur is 6 lakh units and this will be ramped upto 6.70 lakh units, he said, but refused to spell out the investments required for the same.

    On their overseas operations, sales and marketing director Arvind Saxena said the company is hoping to cover 120 countries by year-end.

    The largest car exporter from the country, currently exports 45 percent of its production to 113 countries, primarily to the European Union, Africa, the Middle East, Latin America and Southeast Asia.

    On the company’s market share, he said it will see a marginal increase this year.

    The company had a market share of 20.6 percent last year and this year it is expected to reach 20.8 percent, he said.

    Commenting on labour disputes which led to closure of the plant for 15 days in May, finance director Sethuraman said the company is taking various measures to address the issues.

    The employees went on a strike on 7th June demanding reinstatement of over 60 workers who were dismissed last year.

    However, on a government-brokered deal, the employees called off their stir later.

    The company has sold 5.59 lakh units in 2009 and is hoping to reach around 6.20 lakh this year, Saxena said.

    The domestic arm of the world’s fourth largest carmaker saw a 10.7 percent rise in its sales in July at 50,411 units as against 45,539 units in the year-ago period.


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