Hyundai India cuts down on exports to European markets

Tuesday 12 August 2014, 16:58 PM by

Hyundai India had recently bagged the title of being the India's largest car exporter. The Korean car-maker Hyundai accounts for about 45% of total car shipment from the country. As per the latest update the car-maker shall not export the India's popular hatchback i10 and recently launched Elite i20 to the European market.

The company is planning to get the new cars for the European markets from its factories in Czech Republic and Turkey. The possible reason behind this move could be the ever rising manufacturing costs. Speaking more on situation, official from the company said, “We have already launched four new models over the last one year, and more are coming. While India still remains a strong export base, the first priority is the domestic market.” Moreover officials from the company have also admitted that sourcing the cars from Czech Republic and Turkey is indeed cost-efficient.

Hyundai India cuts down on exports to European markets  |
Hyundai India cuts down on exports to European markets

The new Hyundai Elite i120 is available in both diesel and petrol variants and is available in four trim levels namely - Era, Magna, Sportz, and Asta. Petrol variants are powered by a 1.2 litre engine claimed to return an impressive fuel efficiency of 18.6 kmpl. Diesel range gets the 1.4 litre, U2 CRDi diesel mill with displacement of 1,396cc capable of developing a top power of 90 PS and peak torque of 22.4 kgm. The diesel power-train is vouched to return an excellent fuel economy of 22.54 kmpl. Both the fuel types have been mated to five-speed gearbox.

Rakesh Srivastava, senior vice-president, marketing and sales, Hyundai Motor India said, “We have shifted the focus to the Indian market, which is a priority and would like to increase our market share and volumes. We have launched four new models in the past one year that have given huge incremental sales and taken our share to all-time high of 21 per cent in India. It has been about a month that we have stopped serving Europe, which used to be our single largest market with 40 per cent our exports shipped to that region.”

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