Hyundai Motor Achieves Fastest Export Of 10 Lakh Cars

201002220000 No. 39

Hyundai Motor achieves fastest export of 10 lakh cars

-- Adds Australia as a new market with a shipment of i20

-- To increase its overseas footprint with addition of 10 new markets in 2010

Chennai, February 22, 2010: Hyundai Motor India Ltd, the country’s largest passenger car exporter and the second largest car manufacturer, today achieved yet another significant milestone with its cumulative exports crossing the 10 lakh mark. To mark the event Hyundai shipped its first ever consignment to Australia from the Chennai Port this morning. With this shipment, Hyundai is the first automobile company in India to achieve this feat in a record time of just over a decade.

HMIL began exporting cars in 1999 when it shipped a batch of 20 Santro’s to Nepal and it 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 in March, 2008, HMIL had become the ‘fastest’ Indian passenger car manufacturer to achieve this stupendous milestone in record time. In a little over a decade since Hyundai has been present in India it has become the leading exporter of passenger cars with a market share of 66% of the total exports of passenger cars from India making it a significant contributor to the Indian automobile industry.

Commenting on the occasion, H W Park, Managing Director & CEO, HMIL said, “Reaching the 10 lakh export car landmark is not only a significant milestone but also a matter of great pride for the Hyundai family as it showcases the global success story that Hyundai as a brand enjoys. I take this opportunity to thank all our customers and stakeholders for their trust and support which has helped us reach this landmark. In the future we are sure to increase our overseas presence as we add more markets.”

Currently, Hyundai Motor India is exporting four of its popular models namely - Santro, i10, i20 and Accent to 110 countries. In 2009, in spite of a global slowdown, Hyundai exports grew by 10.7% inspite of the economic slowdown. In 2010 Hyundai plans to add 10 new markets with the Australia being the latest entrant to the list. The first shipment to Australia was of 500 units of the i20 and the total market size expected to be in the region of 15,000 units per annum.

Export Milestones

July 21, 2000	First major export-shipment of 760 Accent and Santro cars rolls out of the Chennai Port for Algeria
March 13, 2003	Hyundai Motor India commences exports to Latin America
August 12, 2003	Export shipment of 1500 Santro Xing cars leave for Europe, HMI becomes the small cars export hub for HMC
October 31, 2004	HMIL crossed the figure of 1 lakh vehicles in exports and emerged as the largest exporter in the Indian automobile industry
October 18, 2005	HMI exported its 2 lakh car to the overseas market
November 29, 2005	HMI exports its first shipment to UK
October 31, 2006	Hyundai Motor India rolls out the fastest 300,000th export car
March 26, 2007	Hyundai Motor India ships out the first Getz
June 1, 2007	Hyundai Motor India Receives EEPC (Engineering Export Promotion Council) ‘Top exporter of the year’ Award for 2005-06
August 6, 2007	Fastest Export of 4 lakh units
March 27, 2008	Fastest Export of 5 lakh units
June 11, 2008	Fastest Export - Over One lakh units of i10 exported since its launch in Oct 31, 2007
November 5, 2008	Hyundai exports its first batch of ‘i20’ to European market. The first export consignment comprised 2820 units of ‘i20’.
December 16, 2008	Hyundai Motor India awarded the ‘Niryat Shree’ Silver Trophy for the year 2005-06 by the Federation of Indian Export Organizations (FIEO).
February 11, 2009	Hyundai Motor India conferred the Top Exporter of the Year for 2006-07in the category of ‘Large Enterprises’ and presented the Gold Trophy at the Southern Region Annual Award Presentation by the Engineering Export Promotion Council (EEPC).
March 25, 2009	Hyundai Motor India honored with ‘EXIM Achieved Award’ for the year 2008 by Tamil Chamber of Commerce
August 29, 2009	Hyundai Motor India honored with ‘EXIM Achieved Award’ for the year 2008 by Tamil Chamber of Commerce. August 29, 2009.Hyundai Motor India Ltd. receives the EEPC ‘National Award for Export Excellence for 2007-08. Hyundai won the Gold Trophy in the ‘Large Enterprise’ category.
February 22, 2010	Fastest Exports of 10 lakh cars, achieved this milestone in less than 10 years