Hyundai eyes more profits in India than China for 2010

• Source: Global Times
• [13:51 November 19 2009]
• Comments

Korean automaker Hyundai Motor Co. said Wednesday its Indian operations will reap in more profits than its Chinese ones next year.

Both countries have played important roles for Hyundai to become one of the top five biggest automakers in the world.

"During the last 13 years that we have been in India, we have never run into losses even for a single year," said H. W. Park, newly appointed CEO and MD, Hyundai Motor India Ltd. "Indian operations inclusive of exports, account for 15 to 20 percent of the company's overall revenue. Our China operations are also very good and profitable. Next year (2010), in terms of profits we will be more than China."

Hyundai's sales volume for the first nine months in India grew 12.3 percent, while the sales revenue was up 35 percent. The automaker expects to have over 320 dealers by 2010 in India.

Agencies and Shi Jierui contributed to this story