New Delhi, July 4, 2008: Hyundai Motor India Ltd, India’s most innovative and fastest growing auto manufacturer today announced a novel Exchange and Upgrade Scheme that allow customers to lower their monthly car-loan payments even as they upgrade to a bigger car. The scheme is targeted at all those users of smaller compacts who would prefer to upgrade to a bigger car but are prevented from doing this by the higher EMI’s of a bigger car.The new Exchange and Upgrade Scheme offer will allow all these potential owners of bigger compacts to do just that. All they have to do is bring in their smaller compact to any Hyundai dealership and get an evaluation of this done at the dealership and put the value as a down payment to upgrade to a bigger Hyundai car. Typically the Equated Monthly Installment (EMI) value for a 48 month loan tenure works out to be an amount which will be lower than the EMI for a smaller car. The scheme is open for all makes of car and upgrade is possible for the most popular hatchback Santro, the newly launched, award winning i10 or even the bigger cars like the Accent and the Verna.“We want to see people upgrade to bigger compact cars and sedans which would be more compatible with the lifestyle of our current customers and hence we have tailor made these scheme for all the owners of smaller hatches who were so far forced to use a smaller car because of budgetary constraints”, said, Hyundai Motor India Sr. VP, Marketing & Sales, Arvind Saxena commenting on the offer.“Typically, a first-time car buyer opts for a compact car and subsequently upgrades. Hyundai is offering to make this upgrade process easier with the new scheme, especially at a time when inflation is high and the cost of loans has increased. In fact, the scheme has been structured in a way that will bring down the EMI’s”, he further added.The scheme will start from the first week of July and will continue till the end of the month.About HMILHyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company, South Korea and is the second largest and the fastest growing car manufacturer in India. HMIL presently markets 31 variants of passenger cars across segments. The Santro in the B segment, the Getz Prime and the i10 in the B+ segment, the Accent and the Verna in the C segment, the Sonata Embera in the E segment and the Tucson in the SUV segment.Hyundai Motor India, continuing its tradition of being the fastest growing passenger car manufacturer, registering total sales of 327,160 vehicles in the calendar year (CY) 2007, an increase of 9.2 percent over CY 2006. In the domestic market it clocked a growth of 7.6 percent as compared to 2006 with 200,412 units, while overseas sales grew by 11.8 percent, with exports of 126,748 units.HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts of the most advanced production, quality and testing capabilities in the country. In continuation of its commitment to provide the Indian customer with global technology, HMIL has set up its second plant, which produces an additional 300,000 units per annum, raising HMIL’s total production capacity to 600,000 units per annum. HMIL is investing to expand capacity in line with its positioning as HMC’s global export hub for compact cars. Apart from expansion of production capacity, HMIL plans to expand its dealer network, which will be increased from 230 to 300 this year. The year 2007 has been a significant year for Hyundai Motor India. It achieved a significant milestone by rolling out the fastest 400,000th export car. Hyundai exports to over 90 countries globally; even as it plans to continue its thrust in existing export markets, it is gearing up to step up its foray into new markets. The year just ended also saw Hyundai Motor India attaining other milestones with the launch of the i10 and yet another path-breaking record in its young journey by rolling out the fastest 1,500,000th car. Hyundai’s new model i10 which made its global debut here in India in October, 2007 made a clean sweep of all the ‘Car of the Year 2008’ awards from the leading automotive magazines and TV channels like BS Motoring, CNBC-TV18 AutoCar, NDTV Profit Car & Bike India and Overdrive magazine. The i10 is also the choice of the discerning automotive media of the country as they conferred the prestigious ‘Indian Car of the Year’ (ICOTY) award to the i10 as well. The i10 bagged these awards on the basis of excellence in build quality, handling, driver comfort, safety and ride quality.The Santro and the Accent also received the ‘TNS Voice of the Customer - 2008’ award for the Premium Compact Car (Santro) and the Entry Mid size Car (Accent). In March 2008 it achieved yet another milestone by rolling out the fastest 500,000th export car.Last year, the Hyundai Verna bagged some of the most prestigious awards starting with the title of "Car of the Year 2007" by India`s leading automotive publication – Overdrive, the “Best Mid-size Car of the Year” award by the NDTV Profit Car & Bike India Awards 2007, the “Best Value for Money Car” by the CNBC Autocar Auto awards and ‘Performance Car of the Year 2007’ from Business Standard Motoring.Hyundai cars have been a favorite at all awards ceremonies and have always been winning awards. Our models like Sonata Embera won the ‘Executive Car of The Year 2006’ award from Business Standard Motoring Magazine and NDTV Profit Car & Bike India declared the Tucson as the ‘SUV of The Year 2006’. Not only this, HMIL has also been awarded the benchmark ISO 14001 certification for its sustainable environment management practices.
For further information contact:VAnand Hyundai Motor India Ltd. email: anandv@hmil.net Divya Sharma Corporate CommunicationsHyundai Motor India Ltd. A-30, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi-110 044Tel: +91-11-41678800email: divyasharma@hmil.net Aparna Srivastava IPAN email: aparna.srivastava@ipan.com
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