Hyundai has shared formidable plans about how they want to position themselves as a manufacturing hub for exports in emerging markets like Africa and neighboring nations. Such objectives have been shared by a company executive to Economic times.
The Company has been planning to diversify its exports portfolio in diverse markets while it still reels with shipment challenges to regions like Middle East due to Red Sea and Other Geopolitical issues.
“We are positioning the company as a production hub for emerging markets. We are manufacturing and exporting our cost-optimised vehicle to the emerging markets,” Hyundai Motor India MD Unsoo Kim told PTI.
He further professed that the company has a balanced mix of domestic sales and exports volumes. Such diversified function provides Hyundai to remain buoyant even when the market fluctuates. The Officials further spoke about how the Hyundai Product line up is perfect for the emerging markets.
Balanced Growth In Domestic And International Markets
Hyundai has been able to witness growth in all regions like Africa, Mexico and Latin America as well.
“However, the Middle East continued to face headwinds due to the Red Sea crisis. We will be closely monitoring the situation and will also plan to mitigate the risk by focusing on other regions,” Kim said.
Beyond the above mentioned nations the brand also has formidable plans to enhance its exports to neighboring countries like Nepal Bangladesh and Sri Lanka.
The top officials from the company spoke about how they want to witness stability in Export volumes. Beyond that the company has specific plans to keep an eye on the emerging markets and ensure delivery of exciting products.
In October – December quarter this fiscal, Hyundai Exported about 40,386 vehicles as compared to that of 43,650 vehicles in the same quarter last year.
Saudi Arabia, South Africa, Mexico, Chile and Peru emerged as the largest export markets for the company by volume. The Total exports from Hyundai Stood at 1,58,686 in Cy 2024
Hyundai had commenced exports from India in 1999, Hyundai Motor India has exported close to about 3.7 million Passenger vehicles till date. Over the years Hyundai has been able to export vehicles to over 150 nations across the globe and has increased the export operations to over 60 countries.
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