Car News in India

The Eurozone crisis is likely to bring down Hyundai Motor India’s exports to 2.25 lakh cars this year against 2.47 lakh last year, a top company official said in Mumbai today.

“We have been exporting more cars to the west European markets, but now the situation is not good. We may export fewer cars this year,” Hyundai Motor India Director and Board Member, Marketing and Sales, Arvind Saxena told reporters.

The country’s largest passenger car exporter (it exports to over 115 countries) targets to export 2.25 lakh cars this calendar year.

The auto major on Monday launched entry-level compact car Eon at introductory price of between Rs 2.69 lakh and Rs 3.71 lakh (ex-showroom Mumbai).

Eon, which will compete with Maruti Suzuki’s best-selling model Alto, is powered by a 814-cc petrol engine. The company has invested Rs 900 crore in development and production facilities for the Eon.

Hyundai plans to produce between 1,40,000 and 1,50,000 Eons in the next one year, Saxena said.

Asked about exports, he said, “We will first concentrate on the domestic market. Later we may export to South America and South Africa.”