Hyundai India says sold 299,513 vehicles in 2006 http://today.reuters.com/news/articleinvesting.aspx?type=companyNews&storyid=75606+02-Jan-2007+RTRS
Tue Jan 2, 2007
MUMBAI, Jan 2 (Reuters) - Hyundai Motor India, a unit of South Korea's Hyundai Motor Co. (005380.KS: Quote, Profile , Research), said on Tuesday it sold 299,513 vehicles in 2006, an increase of 18.5 percent from the previous year.
Hyundai, India's second-biggest car maker, said sales in the domestic market rose 19.1 percent to 186,174 units in 2006, while exports rose 17.4 percent to 113,339 units.
Hyundai's manufacturing plant near the southern city of Chennai has an annual capacity of 300,000 units. Its second plant, which will begin production in 2007, will double capacity.
Hyundai, which makes the Santro and Getz hatchbacks and the Accent, Elantra and Sonata sedans, is also investing $500 million in a new engine and transmission plant with a capacity of at least 400,000 units. Hyundai will expand its dealer network to 200 from 162 this year, it said in a statement.
The world's No. 6 car maker trails leader Maruti Udyog Ltd. (MRTI.BO: Quote, Profile , Research) in India, which has nearly half the market. Hyundai has said it wants a quarter of the Indian car market by 2008, up from about 18 percent now.
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