Hyundai to Export Made-in-India Creta

The country's largest exporter plans to export about 13,000 units of the Creta this year, though it has not committed to a future target since it would also need to meet the demand in India.

Byung Kwon Rhim, President and CEO, Hyundai Motor Europe, said, "Our global sales network and channel partners are strongly demanding for Creta launching in their countries. This will create new additional sales globally."

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While other car makers have already tapped into the SUV boom, Hyundai has struggled to catch up due to a lack of production capacity coupled with the absence of new models in the segment. However, the South Korean car maker intends to fill up the gap soon.

According to a report by IHS Automotive, sales of compact SUVs in India are likely to more than quadruple to 970,000 vehicles in the decade to 2020. Interestingly, the report also expects 550,000 such vehicles to be sold in here by 2015.

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The company plans to increase its domestic sales by 17 percent to 480,000 units in 2015 - which is an increase on a previous 2015 target of 465,000 vehicles, thanks to the Creta. Ambitious targets apart, one must remember Hyundai's total production capacity in India currently stands at 680,000 units. A lack of capacity and no immediate expansion plans could severaly limit its plans.

(With inputs from Reuters)