Hyundai Motor is enjoying rapid sales growth in India, capturing nearly 20 percent of the emerging market in May.
The automaker sold 31,123 vehicles last month, up 14.6 percent from a year ago. Its market in India has reached 19.5 percent, raising the possibility of sales growth for 13 consecutive years.
The figure is the highest monthly market share for this year, rising 0.2 percentage points from a month earlier.
Hyundai Motor is securing its second position in the country, following Suzuki Maruti, the joint venture between Japanese Suzuki and its Indian counterpart, which topped the market with market share of 48.3 percent.
Others included Tata with a share of 10.2 percent, Volkswagen with 5.5 percent, Ford Motor with 4.3 percent, General Motors with 4 percent and Toyota with 2.4 percent.
Hyundai Motor saw its Indian operation’s sales and production figures come in at above 600,000 in 2010 for the first time since its first plant went online in 1998.
The company’s Indian unit, Hyundai Motor India, began producing vehicles in 1998 with an annual production capacity of 300,000 units.
Hyundai Motor India has recorded year-on-year increase for the 12th consecutive year aided by the subcompact i10, which took the title of India’s bestselling model for the second consecutive year in 2010.
Further, Hyundai Motor India was also the subcontinent’s largest exporter of automobiles, having shipped more than 247,000 vehicles to 120 countries.
Last year, Hyundai Motor India exceeded one million vehicles in exports.
Its Indian unit has produced the Santro (a localized model of “Atoz”), i10, i20 and other compact cars which are being exported to 110 countries including Europe, Africa and South America.
Hyundai’s Indian subsidiary started exports in 1999 and reached a cumulative one million in 2004, with numbers continuing to rise in the following years.
Hyundai Motor is the first automaker to exceed one million vehicles in exports in India. Its Indian subsidiary is planning to make additional exports of the i20 to another 10 countries with Australia included.
“Exports topping one million vehicles are a touchstone for Hyundai Motor’s global management and we are proud of our performance. We plan on continuously broadening our exporting regions in the future” said Park Han-Woo, head of HMIL, at an event held in Chennai.
By Kim Yon-se (email@example.com