Hyundai India to put more focus on domestic market

Hyundai India will now put more focus on the domestic market handing over a majority of its European export duties to the South Korean automaker’s plants in Hungary and the Czech Republic. It has taken this step in the light of the changing economic conditions  climate and increase in demand from the domestic market. 

Speaking to the Economic Times, Rakesh Srivastava, senior VP (marketing and sales), confirmed the move by Hyundai India and said that they had launched four new models in the last one year which had given the a huge jump in sales numbers and consequently given them their highest ever market share of 21 per cent. 

In terms of pure numbers, Hyundai’s exports are expected to dip by 25 per cent (1.9 lakh units) but its annual sales in the country is expected to rise by 8 per cent to 4.1 lakh units in 2014. While the European exports have stopped, Hyundai will keep on track its export plans for Latin America, Middle East, Australia and other Asian countries. 

Source:ET