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Rediff.com  » Business » Hyundai to launch i20 diesel by year-end

Hyundai to launch i20 diesel by year-end

May 05, 2009 19:34 IST

Korean auto major Hyundai Motor Company will bring the diesel variant of its premium hatchback 'i20' by the end of this year as part of its plan of introducing at least two new products in the Indian market annually for the next couple of years.

The company is looking to enhance its share in the 1 million-units Indian car market through newer products.

"We currently have a 20.4 per cent market share. For the year ending 2009 we will look at growing our market share further by three per cent," Hyundai Motor senior vice president (Asia & Pacific division) Young-Kil Chun said on Tuesday.

He said that according to industry forecasts the Indian market will grow to about 1.5 million units by 2012-13.

"We should by then have a market share of over 25 per cent, exporting to well over 110 countries. So we will grow along with the Indian market and keep pace," Chun said.

"India will play an important role in the Asian market. Our global target is to reach a 6 million units capacity by 2013 (Hyundai and Kia plants combined)," he added.

Another official at HMC headquarters here said: "Hyundai plans to introduce at least two new products in the Indian market annually for the next couple of years. The i20 diesel variant would be the next in line with launch scheduled for later in 2009."

Pranjal Bhuyan in Seoul
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