Hyundai India has made a smart transition from small car exports to midsize vehicle exports from India as it moves up the value chain to cater to buyers in the country and globally. After the success of two India-made SUVs, the Creta and Alcazar, the company is now planning to export the Verna midsize sedan globally from India.
- India to be the sole manufacturer of the Verna globally
- Hyundai India aims to increase export volume by 20 percent
- Factory capacity increased to 8.5 lakh units
Hyundai’s export plans for the Verna
Our sister publication Autocar Professional learns that Hyundai has given sole manufacturing and export responsibility for the Verna sedan to India. According to several people in the know, Hyundai Motor India plans to manufacture 1.2 lakh units of the recently launched sixth-generation Verna sedan in the coming year, of which almost 80,000 units or 66 percent of its total volumes will be for the export market.
This means Verna’s export volumes will double in FY2024 from about 40,000 units in the previous year. The Verna’s global responsibility will help Hyundai Motor India increase its export volumes by over 20 percent in the following year.
In an official reply to queries sent by Autocar Professional, the company spokesperson said, “Hyundai Motor India Ltd is exporting to the Middle East, Latin America and Africa regions. Verna is well accepted and appreciated in all the markets. We plan to start exporting the all-new Verna in June 2023.”
Hyundai India: An impressive export hub
Unveiling the new Verna on March 21, 2023, Unsoo Kim, MD of Hyundai Motor India, said, “The all-new Hyundai Verna is being manufactured at the state-of-the-art factory in Chennai. The vehicle is made in India for the entire world and we will continue to explore new markets to expand our international presence."
Thus far, Hyundai Motor India has shipped over 4.5 lakh midsize sedans to numerous markets globally. The company has already expanded its manufacturing capacity to 8.5 lakh units to accommodate incremental domestic volumes planned for the future. Hyundai's exports in FY2024 are expected to be in the region of 1.7 lakh to 1.9 lakh units, which, if it hits the mark, will be its best exports in the last five years.
Hyundai Verna to challenge the Honda City
Hyundai claims the new Verna is the most connected sedan in India with 118 embedded commands and is also supported by ADAS features. On the safety front, the company claims the sedan has over 65 active and safety features with 30 standard features.
In the domestic market, the new Verna will challenge the midsize sedan segment leader Honda City, which averages monthly sales of about 2,500 units. The outgoing Verna was averaging around 1,500 units a month. Now, with the sixth-gen Verna, the company aims to double Verna volumes and aspire for segment leadership.