New Delhi, Mar 3: Country's second largest car manufacturer, Hyundai Motors India Ltd (HMIL) today said it has registered an impressive 50.5 per cent increase in its exports for the month of February as compared to the corresponding month last year.
The overall sales for the month stood at 29,001 units out of which the domestic market contributed 14,600 units, whereas exports accounted for 14,401 units. ''Hyundai Motor has been able to register steady growth at a time when the industry growth seems to be slowing down. The budget has brought in some good news and should provide the necessary impetus for the small car growth,'' HMIL, Sr Vice President, Arvind Saxena said.
We have already passed on the benefit of the excise duty cut to customers on three models- Santro, i10 and Getz and we expect the sales to grow across these segments in the coming months, Mr Saxena added.
The company has a fully integrated state-of-the-art manufacturing plant near Chennai and plans to set up its second plant, which will produce an additional 300,000 units per annum, raising HMIL's total production capacity to 600,000 units per annum.
The company also plans to expand its dealer network, which will be increased from 230 to 300 this year.