Indian subsidiary of South Korean auto maker added another feather in its cap recently when it rolled out its five millionth car from one of its facilities. Experts feel that this feat can be considered as a tremendous achievement for Hyundai Motor India Ltd. According to statistics, it has been about a decade and a half since the South Korean auto maker commenced production in India. Notably, the five millionth vehicle manufactured by Hyundai Motor India was rolled out from the firm's production facility in Irrungattukottai, which is located in Chennai. Commenting on the same, Hyundai Motor India's Managing Director and Chief Executive, B S Seo, said, "The five millionth car roll-out is an important milestone and a symbol of Hyundai's long-term commitment to the Indian market. We will continue to focus our efforts in the Indian automobile industry through investments and world-class products."
Hyundai Motor India leads charts when it comes to export of passenger cars in India. Company statistics have claimed that out of the five million vehicle that have been produced, around 38 per cent were exported while the rest were sold in the country's domestic market. Figures are sufficient enough to substantiate Hyundai's success in India as the firm has been here for 15 years now. During this time, Hyundai Motor India Ltd. has made an investment of around $2.7 billion in the Indian car market. An employer of 9500 people, this firm had a turnover of around $5 billion in 2012 and has a production capacity of 6.8 lakh cars.
However, Hyundai's impact in the Indian car market goes far beyond numbers and statistics. As a brand, the South Korean auto maker has done remarkably well in establishing a name for itself. Over the years, Hyundai, through extensive research and analysis, has managed to crack the code of success in the Indian market. Notably, the biggest reason for Hyundai's performance in India is its line-up of hatchbacks, which have really taken the market by storm. Cars from this auto maker are known for their comfort, engine efficiency, interiors and styling. Some of the best cars from the South Korean auto maker are i10, i20, Santro Xing, Eon, Verna Fluidic, Grand i10 and Elantra. Most of these models have been able to register good numbers in the market. An indication of the performance of these models is the fact that Hyundai is the only firm in the market that provides competition to Maruti Suzuki, India's largest passenger car maker.
Another good thing about Hyundai has been its ability to adapt to adversities and challenges that the firm has come across during its stint in India. An example of this would be how Hyundai brought in the fluidic design architecture in the Indian market, which boosted sales of models like Elantra and Verna. Both these cars have done really well in the market, carving a niche for themselves. To put things in a nutshell, Hyundai has been doing well in India for a long time and there is no reason why the same will not continue.
