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Hyundai Opens in India
18th November 2004, Page 10
18th November 2004
Page 10
Page 10, 18th November 2004
— Hyundai Opens in India
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HYUNDAI ISTO establish a CV manufacturing base in India, in a move seen by some observers as a tit-for-tat response toTata's acquisition of Daewoo Motors.
Initially Hyundai will manufacture a range of light CVs for the Indian domestic market; probably at its car plant in Tamil Nadu. However, future production of a full line of I IG Vs has not been discounted. Tata dominates the Indian light CV market at present, with almost 50% of a market that has grown 24% this year. Of the 64,461 light CVs that were sold in the country between April-October 2004,Tata accounted for 31,702.
India is engaged in a number of huge infrastructure projects at present, and this has given a marked boost to the fortunes of the truck manufacturers.