Hyundai Motor India Ltd has announced to introduce a smaller car than Santro by 2011.  According to the senior vice-chairman of the company, Arvind Saxena, HMIL is working on a new car which will be smaller than the Santro model. He stressed that it will take some time to come out with new car in the streets. The vice-chairman was attending a function in Mumbai where he informed the media about the new plan of the company. Talking about the global financial crisis, Saxena stated that HMIL has experienced a slowdown but this has not affected the over all business of the company.

 

Explaining the reason behind Hyundai's increasing growth rate, Saxena said that the company has a strong and huge export base. He also informed that the company has set an export target of 2,50,000 cars by the end of this year. The company also has enough orders in the forthcoming months. Recently, the company achieved 20 lakh sales landmark. In order to celebrate this moment, the company has donated its 20th car to CRY (Child Rights and You). The keys of the car were donated to the director of the NGO by Hyundai's brand ambassador, Shah Rukh Khan at a function in Mumbai.