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Hyundai to prioritise domestic market over exports, says GST will benefit

Facing capacity constraint, firm is yet to take a call on setting up a new mfg unit in the country

Hyundai, Hyundai cars

Korean carmaker Hyundai, which has lost its position as the country’s largest car exporter to Ford, will rework its growth strategy to expand volumes in the domestic market. Unlike most other carmakers, who are sitting on a surplus capacity, the second-biggest carmaker, is facing a capacity constraint. It is yet to take a call on setting up a new manufacturing facility in the country. “We are conscious of the growth of the Indian market. We will continue to rework our production plans with a high focus on the domestic market. We will tweak the domestic and export ...