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Hyundai expects FY17 exports to be flat at 1.65 lakh units.


Date: 28-07-2016
Subject: Hyundai expects FY17 exports to be flat at 1.65 lakh units
The country's second largest car manufacturer Hyundai Motor India expects to ship about 1.65 lakh units in 2016-17, almost same as last year, a top company official said today.

"We are very successful in domestic and export markets. We started Make in India products from 2000 and today our cars are exported to 92 countries. Latin America, Africa, Middle East are the major export markets for us," Hyundai Motor India MD Y K Koo told reporters here.

The company, which made its maiden shipment of just 768 cars to Algeria from Chennai Port, exported 1.67 lakh units in 2015-16. "This year (2016-17) we are expecting to export about 1.65 lakh units," he said.

After receiving a cheque of Rs 19.69 crore as refund of wharfage from Chennai Port Trust Chairman Cyril George here, Koo said, "HMI (Hyundai Motor India) is export hub for Hyundai Motor Company".

"We have been the largest (auto) exporter in this country since 2004," he said.

George said the Korean automaker had exported two million cars since 2006 and received Rs 165 crore as refund of wharfage.

"Chennai Port Trust is considering to expand storage facilities and soon we will be a clean and green port. We are going to modernise our operational area," George said.

Hyundai Motor India registered a 7 percent rise in total sales in June at 55,713 units.

The company, which has two manufacturing facilities at Sriperumbudur near Chennai, had sold 52,062 units in same month last year.

Exports in June 2016 marginally rose to 15,907 units from 15,762 cars shipped in same month last year.

Source : moneycontrol.com

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