Car maker Hyundai Motor is planning to launch another small car, to be placed below the Santro. The new MD and CEO of Hyundai Motor India Limited (HMIL), Mr HW Park, told mediapersons that the company was developing a small car in Korea, specifically for the Indian market, at an investment of Rs 800 crore. Details about the car’s pricing and launch schedule are not yet known. Mr Arvind Saxena, the company’s Senior VP (Marketing and Sales) said that it was prepared to face competition from other brands entering the small-car market, and was confident of retaining its 21 per cent market share in India. He also said that Hyundai’s focus in India would remain on small cars.
Meanwhile, HMIL is planning to increase its revenue share from the domestic market to 60 per cent. At present, its domestic sales to exports ratio is 50:50. India will continue to be the company’s small-car hub, said Mr Park.
