Indian rupee depreciation has not affected our production: Hyundai - Financial Express

PTI | Bangalore | Updated: Sep 10 2013, 20:03 IST SummaryThe rupee depreciation has not really impacted the company's production as it helps us to explore the export market. Hyundai Motor India today said rupee's depreciation against the dollar has not impacted the company's production as it has been compensating the shortfall in the domestic market by exploring newer global markets. "The rupee depreciation has not really impacted the company's production as it helps us to explore the export market. We have been able to compensate shortfall in domestic market by looking at newer global markets," company's Finance and Corporate Affairs Director R Sethuraman told PTI after the launch of Grand i10 here. He said in the last 10 months, the automobile industry has been facing de-growth of almost 14 per cent. "Though Hyundai has minus 4.8 per cent de-growth, its market share has gone up to 20.4 per cent against 18.3 per cent last year. Hyundai is the largest exporter from India. In fact the company exports to 125 countries. Almost 40 per cent of the production goes to various countries - Europe, Africa, Latin America and Asia," he said. Hyundai, the country's second largest car maker, launched Grand i10 in the city today, with a price starting from Rs 4.37 lakh (ex-showroom, Bangalore). The petrol version is priced between Rs 4.37 lakh and Rs 5.57 lakh, while the Diesel version is available between Rs 5.33 lakh to Rs 6.53 lakh (all ex-showroom, Bangalore). More from Companies AirAsia: Subramanium Swamy files PIL in Delhi HCAirAsia India will be based in Chennai in which the Malaysian carrier will hold a 49 per cent stake. Companies Act draft rules bring clarity on auditor rotation, CSR spendingVijay Mallya in firing line as lenders put squeeze on UB Group assets Editor´s Pick Apple Inc. unveils iPhone 5C in 5 colors, iPhone 5S with fingerprint scanner, price starts at $99 Highlights of Apple Inc event: iPhone 5S, 5C, iWork and many more Review: Slick iOS 7 shines on Apple Inc's iPhone 5C, iPhone 5S Copyright © The Indian Express ltd. All Rights Reserved. via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNETxqSZuG_IopOWNJEGtVW2qdbLTA&url=http://www.financialexpress.com/news/indian-rupee-depreciation-has-not-affected-our-production-hyundai/1167203

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