Hyundai also lined up for new small car

The rate race is started already in India to join the bandwagon of launching small cars in India. The new name in the crowd is Hyundai Motors India (HMIL). The new small car from Hyundai will be smaller than Hyundai Santro. HMIL's newly appointed CEO and MD HW Park informed that the India bound small car is in development process in Korea at the investment of Rs 800 crore. However, he did not disclose about the commercial launch or price of the car. Mr Park said that the company wants to grow domestic sales to export ratio from 50:50 to 60:40 by the next year. He added that Hyundai will continue exporting small cars from India to overseas market.