Hyundai Motor India Ltd, which is a wholly owned subsidiary of Hyundai Motor Company of South Korea. Hyundai entered Indian market in the year 1996.
HMIL’s first car in India was Hyundai Santro in September 1998 which was a great success & within months of its launch, Hyundai India became second largest automobile manufacturer in the country, only next to Maruti Suzuki which had its root in India for over a decade. From that point, there was no looking back and HMIL still holds the same sweet second spot.
HMIL established a high quality production unit in Chennai & to cater its increasing demand started a new facility in Sriperumbudur, Tamilnadu. HMIL produces 6, 70,000 units every single year in these two units combined & it’s the India’s leading automobile exporter for straight ten years. Currently, the cars produced in HMIL are exported to over 90 countries. HMIL also has a Research & development center in Hyderabad. On February 22, 2010 HMIL achieved the milestone of exporting 1 million cars across the globe. On October 17, 2013 Hyundai Motor India Ltd rolled out 5 million cars in India. HMIL has more than 600 service centers in India. HMIL’s total income in the financial year 2014-2015 was INR 27421.4 crores which was 7.87% higher than the previous financial year. But, its net profit declined by 6.6 % from the previous year to INR 1035.04 Crores due to higher outgo on account of royalty payments and depreciation. Hyundai Motor India Ltd has a market share of 16.17 % in 2014-2015 which was 15.18% in the previous year.