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Hyundai exceeds production target for 1999

Hyundai Motor India Limited, makers of the Santro and the luxury segment Accent cars, will finish the calendar year 1999 with an additional production of 5,000 cars.

Company president A P Gandhi told mediapersons in Bangalore on Friday night that the company would be producing 55,000 cars during the current year as against the targeted 50,000 vehicles.

The Accent, whose bookings started two days ago, would account for 2,500 cars. The financial year April 1999 - March 2000 would see a production of 60,000 vehicles, he added.

The company which completed sale of 50,000 units of the Santro recently, had cornered 38 per cent of the market for the lower-end cars during the last two months.

He said the Santro had an indigenous content of 86 per cent while the local component content for the Accent was estimated at around 70 per cent.

Aimed at upper class and higher end of the market, the Accent Deluxe model was expected to sell well, Gandhi said and added that the company was not perturbed by the lower price of the Ford Ikon. The release was planned a year ago and not in a hurry to beat the Ford's latest model built for India.

He said the Accent has been developed at a cost of $ 90 million. This was included in the $ 614 million invested by the parent company so far.

Powered by a 1500 cc four-cylinder multipoint fuel injected alpha engine, the Accent is very distinct in its style and technology, said Hyundai officials. The company is offering three variants of the vehicle in six colours.

UNI

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