Working Hours : 0900 - 1730 hrs
Consular Services : 9:30am - 12:30pm
Press Release and Events
 › Press Release and Events › Media Report: Hyundai aims to achieve accumulative sales of 10m units in India in the next 5...
Media Report: Hyundai aims to achieve accumulative sales of 10m units in India in the next 5 years (Aju News Samsung Newsroom India)

Hyundai Motor aims to achieve 10 million units in terms of cumulative production and sales in the Indian market within the next five years. It would a milestone to be achieved in 23 years since the carmaker began production and sales in India in September 1998.

According to Hyundai Motor on Nov. 23, Hyundai Indian plant, which has surpassed 7 million units of cumulative production and sales, is aiming for cumulative production and sales of 10 million units in the first half of 2021. Hyundai plans to produce 3 million vehicles over the next five years. It is quite fast considering that it took 35 years for Hyundai to achieve the cumulative sales of 10 million units in Korea.

"Hyundai Motor will be able to set a milestone in every 18 months on average," said Koo Young-key, Managing director Hyundai Motor India. "Hyundai vehicles made in India will be recognized not only in India but also in the global market.”

Hyundai Motor held a ceremony to celebrate the production and sales of 7 million units in Chennai, India on Nov. 21 (local time). Hyundai Motor’s Indian plant is the second one to exceed 7 million units in cumulative production and sales among Hyundai Motor plants following its Chinese plant in seven countries around the world.

Hyundai Motor advanced into the Indian market in May 1996 when it set up a local subsidiary. Thereafter, Hyundai began production and sales as it established a factory in Tamil Nadu, southern India in 1998. Hyundai sold a total of 8,447 units by mass producing its first local strategic model, 'Santro (domestic name: Atoz)' in 1998. In 2006, the carmaker achieved cumulative sales of 1 million units in 8 years. In 2008, it built 2 factories and exceeded 2 million units that year. In May of last year, its sales reached 6 million units in 7 years. Hyundai Motor plans to achieve production and sales of 8 million units by 2018 and 10 million units by 2021 in India.

Hyundai Motor currently has a total of 11 lineups in India, including the Grand i10 and Creta. The carmaker launched the new Elantra (domestic name: Avante) in August to strengthen the sub-mid-sized sedan market and released its third-generation Tucson on Nov. 14, which was discontinued since the first-generation in 2005, to tap into the sub-mid-sized SUV market.

Starting with the new Grand i10 next year as a facelifted model next year, Hyundai Motor plans to introduce the new version of Verna, a fully changed model, and a partially changed Creta model at the end of the year. In 2018, the carmaker plans to establish four SUV lineups by adding one compact SUV model in addition to Creta, Tucson, and Santa Fe. In addition, the company plans to re-launch a minicar called Santro, which was discontinued at the end of 2014, in order to revive its past status as ‘people’s car in India’

On the back of the growth in the Indian market, Hyundai Motor is expected to build a new office building on Sector 29 in Gurgaon, an industrial city in Hariyana, Southwest New Delhi in 20 years after it advanced into the Indian market. Indian local media reported that Hyundai Motor won the auction for a commercial site of 7,820.80 square meters at about Rs 2.05 billion (about 35 billion won).

Gurgaon is an industrial city adjacent to New Delhi, the capital of India, and has many Korean companies and global companies such as Samsung Electronics and POSCO. If a new office building is to be built, it will serve as a core network linking the production base located in Tamil Nadu Province near Chennai in southern India, Hyderabad Technology Research Center in central India, and 16 regional offices in the north, south, east and west of India.

Park Min-joon, Director of KOTRA said, "Samsung Electronics has also relocated its office to Gurgaon in New Delhi." He added that “As there is a shortage of offices in New Delhi, if you move to Gurgaon area and build an office building, it will be an attractive investment as you can save rental fees.”

Hyundai Motor India's sales subsidiary, which is currently leasing three floors of a building in Jasola, New Delhi, is expected to set up a showroom if its new office building is constructed and to hold various events including new car launching events at its office building without renting a hotel.

A Hyundai Motor official said, "We plan to focus on sales in Indian market which has recently showed upward trend," adding that “The construction of our office building has yet to be confirmed and we are considering various possibilities."

| | | | |
© Embassy of India, Seoul, Republic of Korea. 2018. All Rights Reserved.
Officer-in-charge: Kriti Das Thokchom, Third Secretary
Powered by: Ardhas Technology India Private Limited.