Hyundai, the South Korean car maker, is said to have saved itself from the falling rupee regime by its high volume of exports. Notably, Hyundai India exports around 40 per cent of cars manufactured in India, which makes it the largest passenger vehicle exporter in the country. This has helped the company to shield itself from effect of the constantly falling value of rupee. Industry experts feel that the company has a good chance of recovering from this slump due to revenue generated from exports. Also, Hyundai has a decent market share in the passenger car segment, something that it is looking to enhance in coming times. The South Korean firm recently launched the Grand i10, a premium hatchback placed between i10 and i20. This hatchback is priced in a range of Rs. 4.29 lakh to Rs. 6.41 lakh.
Senior General Manager and Group Head for Marketing at Hyundai India, Nalin Kapoor, said, "The company exports nearly 40 per cent of the cars produced in India. Last year, the number was around 2.5 lakh units. Hyundai India is a net exporter and this has helped us in the situation where the rupee is falling."
The Indian currency is witnessing an all time low and is said to have recorded its lowest value in the past two decades. This downfall is affecting the nation immensely and any further decline will cause a high increment in the cost. The rise in the cost inputs is affecting auto makers badly as a lot of them import components from outside. The sales have already been declining and the automobile industry is suffering from a terrible phase. Companies are now devising methods to keep the costs in check by sourcing vehicle parts from local vendors. Apart from this, auto makers in the country have put on hold their future investment plans for expansion.
