Hyundai India expects to export 1.65 lakh cars this year; over 2 million cars exported through Chennai port

Hyundai India, India's second largest carmaker, hopes to export about 1.65 lakh units in this fiscal year. The company had shipped 1.67 lakh units last year and Hyundai hopes to clock about the same number this year.

Hyundai exports cars to 92 countries, and Latin America and Middle East are the biggest export markets for the South Korean company. The company, which started the shipment of just 768 cars to Algeria from Chennai Port in 2006, has exported two million cars since then.

Managing director, HMIL, YK Koo said, "Exports have been integral to HMIL and we are happy to have had a great partnership with the Chennai Port which has only grown and strengthened over the years. This association has not only helped catapult Hyundai as the No.1 exporter for over a decade, but also helped HMIL play a critical role in Hyundai's global operations."

The company received a refund of Rs. 19.69 crore from Chennai Port Trust Chairman Cyril George as wharfage charges for the year 2015-16. Hyundai, which has exported over 2 million cars since 2006, has received a total of Rs.165 crore as refund of wharfage.

In June, Hyundai Motor India reported 7 percent increase in total sales at 55,713 units. The export of the company also rose marginally in June 2016 to 15,907 units as against 15,762 units in the same period in 2015.