Cars in India | Autoportal.com
Select City

Hyundai targets to produce over 1mn vehicles in India by 2020-21

Hyundai targets to produce over 1mn vehicles in India by 2020-21

Snapshot: According to IHS Automotive survey, the India car market is set to become the third largest by 2020 with a production output of around 5.75 million units.

- Comments    |    Write Comment

Country’s second largest car manufacturer, Hyundai Motor India has set a target of producing more than 1 million vehicles every year by 2020-2021, which is just double jump in the sales stats by the Korean atuomajor. With its success in India, Hyundiai has also planned to introduce one of its subsidiary Kia Motors that is specialized in small cars.

Click here to read about Hyundai Grand i10 Facelift!

The brand seems to sell off 1.1-1.2 million vehicles a year in the country, post Kia’s entry, where this market is expected to reach to third largest by the year 2020-21. In 2015, it sold 4.65 lakh vehicles in India and now company aims for a total output of 1.1 million -1.2 million which that will both includes domestic sales and exports.

Speaking to ET, Mr YK Koo, managing director of Hyundai Motor India, said he would not like to comment on Kia's plans since it is a separate entity. And refused to predict any sales numbers, but said there was significant growth potential in the market. "As one of the largest players in the market, we will continue to invest in new products and segments and deliver what our customer wants, underlining our intent of being modern premium," he added.

While the entry of the Kia, it is expecteing to come up with additional sales of about 2 lakhs cars for the company. According to vehicle sales forecasting agency IHS Automotive, the India passenger car market is set to become the third largest in 2020 with a production output of around 5.75 million units.
 

Related car news

  • Honda India to Export WRV to Brazil 22-03-2017 Davender Soni Honda India to Export WRV to Brazil
  • Volkswagen Tiguan Production Starts in India 22-03-2017 Mayank Volkswagen Tiguan Production Starts in India
  • Hyundai to manufacture cars at Kia’s new plant in Andhra Pradesh 14-03-2017 Anurag Busi Hyundai to manufacture cars at Kia’s new plant in Andhra Pra...
  • Mercedes GLA Facelift Production Starts in Germany 03-03-2017 Mayank Mercedes GLA Facelift Production Starts in Germany
  • Nissan India Achieves Export Milestone of 700,000 Units 01-03-2017 Mayank Nissan India Achieves Export Milestone of 700,000 Units
  • Made-in-India Jaguar XF Launched at Rs. 47.50 Lakhs 23-02-2017 Mayank Made-in-India Jaguar XF Launched at Rs. 47.50 Lakhs


Helpline