Hyundai had expected rise in exports some time back with its new order of 60,000 units for Hyundai i10. However, the equation seems to change for the Korean car maker now.
Appreciation of the Indian rupee has compelled Hyundai to revise its exports targets from India. It would now be exporting 212,000 units as against its earlier export target of 265,000 units.
According to the senior vice-president, Arvind Saxena of Hyundai Motors India, "We had earlier decided to export 265,000 units this year but a major appreciation of the rupee has compelled us to cut it to 212,000 units,"
Hyundai has already decided to make India as its exports hub for the small car segment. It would cater demands from over 90 countries. It has already made big investments at its Chennai plant in India. It is also running a training program for its staff all over the world to understand the model and get themselves familiarized with it.
