Hyundai eyes 23% mkt share, to bring 2 new models in 2009

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New Delhi, Sept 10 (UNI) Hyundai Motor India Ltd (HMIL), the country's second largest car manufacturer and the largest passenger car exporter, today said it aims at increasing its market share to 23 per cent by the year-end, with the plans to launch two new models next year.

''We plan to increase our market share to 23 per cent from the current 22 per cent by the end of this year,'' HMIL Managing Director HS Lheem told reporters here.

The company's much-awaited i20, which will be fitted with the new Kappa Engine, is set to make its debut by the year-end.

''The i20 will be manufactured exclusively in India and we plan to launch two new models next year,'' Mr Lheem said, adding that the company wants to make India global hub for manufacturing its small cars.

However, with the launch of i20 HMIL will stop exports of 'Hyundai Getz', Mr Lheem maintained.

The company, which is celebrating the 10th anniversary of its operations in the country, will commence the third shift operations at its Chennai plant from September 16 and recruit 850 more employees to clear the backlog orders.

Also, it will export 20,000 completely knocked down (CKD) kits to Turkey and soon to other Asian markets.

Hyundai targets production and sales of 5.30 lakh vehicles in the current year and 6.30 lakh next year with the plans to increase it further by 2010.

''Out of the 5.3 lakh units about 50 per cent is meant for exports,'' he said.

Mr Lheem said Hyundai would launch the Santro's LPG version this month and that of Accent next month. CNG-driven Santros and Accents are already available in the market.

Also, it plans to launch the diesel version of 'Verna' soon.


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