Hyundai Motors India Limited (HMIL), the largest car exporter and the second largest car maker in the Indian auto market said on Wednesday that it will be enhancing its focus on the exports markets so that the low growth in the domestic market can be countered.
In a statement given to PTI, on the sidelines of annual summit of SIAM (Society of Indian Automobile Manufacturers) in the National Capital, Mr. Arvind Saxena, Hyundai Motor India Ltd (HMIL) Director (Marketing and Sales), said, "Our first priority is always the domestic market, but in the last few months it is quite down.” He added, "So in order to keep our overall sales momentum intact, we are reviewing our focus on export destinations."
The largest Indian car exporter HMIL currently dispatches its cars to as many as 110 countries of the world including the regions like Africa, Middle East, Asia Pacific and Europe.
Earlier this year, the firm had said that it is diverting some of its exports volume to catch-up with the rising demand in the domestic market. Now as the sales have slowed down in the Indian auto market, the company is now again planning to re-shift its focus to foreign markets.
According to Mr. Saxena, HMIL is not going into any new markets for exports, but pushing more volumes in the existing markets where it has been present for the last few years.
In July 2011, HMIL’s domestic car sales fell to 25,642 units from 28,811 units same month last year. However, the ales in foreign markets picked up to 24,025 units in the same month from 21,600 units in July 2010.
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