The worldwide launch of the Hyundai i10 in India was not only a landmark for the Indian Automotive Industry but it also has proven to be the lucky charm for Hyundai Motor India Ltd (HMIL), with the i10 bringing in the combined exports of HMIL to 500,000 units at the frenzied Chennai docks this morning. Not to forget the efforts of the Santro, Getz and Accent platforms that has contributed generously to HMIL in achieving this milestone.
After receiving numerous accolades for their efforts namely the - ‘Top Exporter of the Year 2005-06’ award from the Engineering Export Promotional Council (EEPC) in the category of large enterprises of India and the consecutive winner of the CNBC ‘Exporter of the Year’ for the last two years, it clearly indicates the performance, growth and dedication of HMIL wherein they could have easily rested on their laurels. Taking into account the way they began operations with a 20 car shipment to Nepal in 1999, their growth curve is only next to astonishing to say the least. Showing consistent growth in such a volatile industry along with using India as an export platform deserves praise. Kudos!
India is rightly Hyundai’s small car hub at the moment, after the disappointment accompanying the Terracan which was clearly overshadowed by Honda’s CRV. None the less, the Korean major gained some pride when the Sonata scored over Accord during initial years, owing primarily to its stunning looks that appealed to all and sundry. Now getting back to HMIL’s export figures the, 100,000 car milestone was accomplished in October 2004, when HMIL was 4 years and 10 months old here. Consistent performance saw the 200,000th, 300,000th and 400,000th car being rolled into the container ships in October 2005, October 2006 and August 2007 respectively. Clearly without any doubt, HMIL has become the fastest Indian passenger car manufacturer. Even though their projections look far-fetched, they cannot be discounted with their impressive history. Currently the production targets stand at 5.3 lakh units and the export projection is 2.12 lakh units for this year. But this is all for the domestic market, will the Korean giant taste success in the international market too? It surely will be a tough ask. The reason for this statement of mine is a cute little, oochy-coochie-coo car - Fiat 500. The 500 has been awarded the Car of the Year in Europe for 2008 and has already captured the imagination of millions. We will have to wait and watch if HMIL cars would still be zipping across Latin America, Africa, the Middle East, Europe and the Indian sub-continent in the near future.
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