Hyundai Motor India Ltd on Tuesday said that tis new sedan Verna will be launched in India during the third quarter (Jul-Sept) of 2006, which will be slotted between its Accent and Elantra models.
Speaking to reporters after rolling out the 2,00,000th car for the export market at a ceremony at the Chennai port, Hyundai President B V R Subbu said the company hoped to sell about 1,000 units of Verna per year.
The company would assemble the car at its Chennai plant, after bringing in the CBUs (completely built units) from Korea.
Commenting on its export achievement, he said Hyundai India with exports of over Rs 1,700 crore (Rs 17 billion) was the single largest exporter of passenger cars from the country. The company, a wholly wned subsidiary of South Korean auto major Hyundai Motor Company, had reached the 100,000 car exports figure in October 2004.
"We have touched the 200,000-mark in less than a year and this is the fastest by any manufacturer in India," he said.
Hyundai Motor India exports its Santro Xing model under Atos Prime brand and Accent to over 60 countries in Europe, Africa, the Middle East, Latin America and Asia. The most important markets for HMI are Italy, Germany, Greece, Spain, Algeria, South Africa, Mexico and Colombia. -- PTI
(Above) South Korean models pose next to Hyundai Motors' new offerig, Verna, at its unveiling ceremony in Seoul last month. Hyundai has priced the car from $8,302 to $14,290 for the Korean market.
Photograph: Kim Jae-Hwan/AFP/Getty Images
