Hyundai Motor: Hyundai Motors has changed its strategy for the export of small and mid-size cars. Because the demand for the company’s cars is very high even outside India. Therefore, after Creta and Alcazar, the company is going to start exporting the new Verna as well.
What is the company’s plan?
According to a media report, the company will take care of manufacturing and exporting the Verna only in India. The company is planning to produce 120000 units of Verna by next year. Out of which around 80000 units will be exported to foreign countries. That is, the export of Verna will double in the financial year 2023-24, which was 40,000 units in the financial year 2022-23. Due to this, the total exports of the company are estimated to increase by more than 20 percent.
what the company said
A company spokesperson has said, “Hyundai Motor India Limited is exporting its vehicles to the Middle East, Latin America and African countries. Verna is well-liked in all these markets. We plan to start exporting the new Verna from June 2023.” Working on the plan.
India is a big export center for the company
On the occasion of the launch of the new Verna on March 21, 2023, the company’s MD Unsoo Kim said, “The all-new Hyundai Verna is being manufactured at the state-of-the-art factory in Chennai. This car will be made in India only for the whole world. We are constantly striving for our expansion in the international markets.” The company has so far exported more than 4.5 lakh units of this sedan to many countries of the global market. The company will further increase its production capacity to 8.5 lakh units. Hyundai’s export is expected to be 1.7 lakh to 1.9 lakh units in the financial year 2023-24, which is the highest in the last 5 years.
Competes with Honda City
Hyundai claims that the new Verna 118 is the most connected sedan in India with embedded commands, as well as ADAS features. In the Indian market, this car will compete with the Honda City, which currently sells the most in the segment at around 2500 units per month.