Hyundai Motor India is one of the biggest automotive exporters in the country
As most countries are currently under a stage of lockdown due to coronavirus pandemic, automotive sales have almost hit a halt globally. One of the leading car exporters from India, Hyundai Motor India Ltd. (HMIL) has reported a major drop in exports. In April 2020, the South Korean automaker could export only 1,341 units. This is still a decent figure compared to other major exporters.
The situation is even worse in the domestic market, as not even a single unit was sold due to the ongoing lockdown. As the lockdown has been extended, automotive dealerships would remain closed for a longer period while OEMs gradually open their plants to work with limited resources.
Auto exports have been falling ever since coronavirus started spreading across the globe. If we take Hyundai Creta exports as an example, a total of 4,538 units were exported in February 2020. The number dropped to 2,508 units in March 2020. Barring a few exceptions, this trend applies to all of Hyundai’s export products.
In fact, Hyundai exports most of its cars that are sold in the Indian market. The export portfolio includes Creta, Venue, Verna, Elite i20, Aura, Grand i10, Grand i10 Nios, and Santro. Hyundai exports them to 88 countries located across four continents.
Auto exports are a major revenue generator for Hyundai India. In January, the company achieved a new milestone by exporting 3 million cars. The three-millionth car to be exported was a Hyundai Aura. The compact sedan was launched in January at a starting price of Rs 5.80 lakh ex-showroom.
HMIL started its export operations since 1999. Over the years, the company has achieved several milestones along the way. The first million-mark was achieved in 2010 and the second million came in 2014. Last year, Hyundai had a market share of 28% in the exports category.
To lend a helping hand in these challenging times, Hyundai has started manufacturing ventilators. The company has partnered with France’s Air Liquide Medical Systems for this initiative. Initially, 1000 ventilators will be supplied to healthcare centres. Production would be increased depending on how the situation evolves in the coming weeks.
In April, Hyundai had sourced COVID-19 testing kits from South Korea for the Indian Council of Medical Research (ICMR). A total of 25,000 test kits (worth around Rs 4 crore) were imported by the company. The brand has also donated Rs 5 crore to Tamil Nadu Chief Minister Relief Fund and Rs 7 crore to PM Cares relief fund.