COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES

Made-in-India Santro to be exported to SAARC countries from June

Buoyed by the response to its small car, the Santro, in India, Hyundai Motor Company has launched a 798cc version of the car in the South Korean market. Christened Visto, the car will also be exported to Bangladesh, Nepal and Sri Lanka from June this year.

Hyundai is presently exploring opportunities to export the Santro (Visto) to neighbouring countries like Bangladesh, Nepal and Sri Lanka and semi-knocked down kits and completely built units from June 1999 onwards while Pakistan is planning to assemble the Atoz from Korea.

The car has been launched in Korea in two variants -- Visto ESS and the Visto Que -- priced at around $ 4,500.

The Visto is being manufactured by the $ 8.24 billion HMC at its Ulsan plant with the body panels and engine parts imported from its wholly-owned subsidiary -- Hyundai Motor India Limited.

HMIL had begun exporting Santro body panels, engines and transmissions to the parent company in South Korea from March 1999 and is expected to earn $ ten million as foreign exchange in the very first year of its exports.

The Visto will be marketed in Korea by Kia Motors in competition with the 800cc Hyundai Atoz and Daewoo Matiz. Kia-Hyundai plans to sell 50,000 units of the Visto and 10,000 units of the Atoz in the domestic market in the current fiscal.

The car is expected to expedite revenues of the ailing Kia Motors and in course of time outsell others in the small car segment in Korea.

''This is the first time in the Indian automobile history that an international product was first launched in India and then taken across the shores to the mother company's domestic market, confirming to the product's international relevance in terms of technology and quality,'' Y S Kim, managing director of HMIL said.

UNI

Business news