Hyundai is fixated on the "i"

Venkatachari Jagannathan
02 November 2007

The Korean group also plans to introduce a model called i20 replacing Getz sometime in 2008. In addition the group is designing a sedan to be called i30.

Says Heung Soo Lheem, managing director and CEO, "The group has plans to launch a new car in the `B'' segment. The model will be made in India for the global markets." The Korean group has designated India as its global hub for small cars. Presently Hyundai Motor India and ships out Santro and Getz.

The company says its export thrust will be high from next year onwards when i10 will be launched in the European markets. Moreover, the Korean group plans to use the Indian plant to cater to the global markets of i10.

According to Lheem, the Indian company would roll out 5.3 lakh cars during 2008. "Fifty per cent of the production will be exported. And 40 per cent of the production will be of i10 model." The current export order book position for i10 is 9,700 units.

Queried about the i10 cannibalising Santro sales, Arvind Saxena, vice president, sales and marketing, says, "There will be some cannibalisation. But it will not be a major worrying factor. Santro will be first car of choice for the buyers."

He hopes to sell around 2.3 lakh units next year both exports and domestic markets put together.
Eyeing tax incentives.