Hyundai Targets 13% Growth in India This Year

Hyundai Motor Co. predicts its sales in India will climb to 465,000 units from 411,500 in 2014, driven by strong market demand for small cars and SUVs.

India sales chief Rakesh Srivastava tells reporters in New Delhi the company expects its exports from India will remain unchanged at about 200,000 units. Hyundai has local capacity to build 700,000 vehicles per year.

The company's sales in India rose 8% last year, giving Hyundai a 5% piece of the market there. The company's share is likely to reach 6% this year if it meets its sales target. Srivastava says new products, an expanded dealer network and a push into new markets will drive growth.