Hyundai Motor India exports cross half-million mark

Company Brief

New Delhi, March 27, 2008

Hyundai Motor India, India's largest passenger car exporter and second largest car manufacturer, today achieved another significant milestone with its cumulative exports crossing the half-million mark (500,000 units) with the loading of its latest product the i10 this morning at the Chennai port.

Winner of the prestigious 'Top Exporter of the Year 2005-06' award from the Engineering Export Promotional Council (EEPC) in the category of large enterprises of India and the consecutive winner of the CNBC 'Exporter of the Year' for the last two years, HMI has achieved this distinction in record time of less than 9 years. What began as a twenty car shipment to Nepal in 1999 has today catapulted the company to the position of the largest passenger car exporter with 90 countries on the overseas buyer's list and exports projected to grow to well over 2 lakh units per annum from this year. Today HMIL made cars can be seen on the roads of Europe, Latin America, Africa, Middle East and in the neighbouring countries of the Indian sub continent.

HMIL reached the first milestone of exporting 100,000 cars in four years and ten months in October 2004. In October 2005 it exported its 200,000th car followed by its 300,000th car and 400,000th car in October 2006 and August 2007 respectively. By exporting the 500,000th car, HMIL has become the fastest Indian passenger car manufacturer to achieve this stupendous milestone.

Commenting on the company's export performance, H S Lheem, Managing Director, HMIL said: "No matter where you drive in the world be it the Autobahn of Germany or the Motorway of UK you are bound to come across cars made by Hyundai Motor India and this is indeed a sight which should make everyone connected with Indian operations and India very proud. And I am really happy that we are on the right track and growing as far as exports of Hyundai cars are concerned. And we have achieved this thanks mainly to the quality and reliability of our cars. Today Hyundai cars symbolise global trends and aspirations of our buyers and stand among the very best."

To cater to the enormous demand for Hyundai products in the domestic and overseas markets, HMIL has doubled the production capacity from 300,000 units to 600,000 units per annum with the commissioning of the new plant in Chennai in February this year.

The target production for 2008 is 5.3 lakh units and the export target for this year itself is 2.12 lakh units.

Currently, Hyundai Motor India is exporting four of its most popular models namely - the i10, Santro, Getz and Accent models to around 90 countries and this list is expected to grow further in the coming years.

For further information, please contact:

IPAN

Aparna Srivastava

Tel: +011 - 42492109

Mob: +09811234594

e-mail: aparna.srivastava@gmail.com