Hyundai Motor India Ltd. (HMI) is interestingly India's fastest growing auto manufacturer and largest passenger car exporter. Yesterday, HMI launched the new Hyundai i10 in New Delhi. The i10 small car is the first Hyundai to make its world debut in India and notably, India will be the sole production and export hub for the new car.
Hyundai may have made its name manufacturing cheap and cheerful cars for the masses but it is now a world vehicle manufacturing super-power and this fact is borne out by its 18 percent share of the Indian vehicle market â€“ a share it expects to increase to at least 20 percent by the end of 2008.
As India follows Chinaâ€™s lead and begins to grow its economy on the back of industrialization its demand for the automobile will continue to grow at a massive rate.
By 2008, HMI plans to produce 600,000 units at its Chennai plant half of which will be exported. India is expected to account for 30 per cent of the companyâ€™s international production by the end of 2008.
The i10 marks the entry of stylish, performance driven compacts from Hyundai â€“ and we should now be thinking â€œcheap and well madeâ€. Well equipped, the i30 features standard air conditioning, power windows a six-speaker stereo and four airbags.
It will be powered by a 1.1 litre, iRDE petrol engine that develops 48kW/65hp with a 1.1-litre 56kW/75hp diesel option expected to follow as well as a rumoured 1.3-litre engine about which little is currently known.
More details to follow as they become known.