Thursday, August 28, 2014
By Kriti Gupta
Hyundai India to enhance its production efficiency
Hyundai Motors India Limited country’s second largest car manufacturer and Indian alliance of Korean car maker Hyundai Motors is speculating to enhance its production efficiency by setting up its second production unit in Indian car market. According to sources close to industry as an impact of increasing competition from strong rivals like Ford and Honda, Korean car maker is aggressively working on increasing its production capacity.
The reports also reveal that company has huge plans of investment in Indian car market and is speculating to launch two to three new products annually in market and explore its potential to new segments. According to reports Korean car maker has a compact SUV and an MPV in pipeline for next year. In the words of Mr. B.S. Seo, M.D and CEO, Hyundai Motors India Limited, company’s present production unit located at Chennai has the production ability of 6.8 lakh vehicles per year, which can be further explored to 7 lakh units. According to him expansion to 7 lakh units is also an assumption and there are very less chances to do so and this limitation has compelled company to minimize its export activities to some extent.
Click here to read review of Hyundai Elite i20
After launch of Elite i20 hatchback recently in Indian car market the car maker is now looking to explore its dimensions in those segments in which it has not yet made its entry. The main in these segments are mainly a compact SUV and an MPV. Recently it was rumored that with an objective to compete with Ford EcoSport company is going to bring an MPV which would determine company’s line-up for future products. Although these are future predictions but one thing which is quite sure is that the upcoming products would carry company’s trend of offering dynamic vehicles mounted with latest technical features.