Just as we told you back in May, the South Korean manufacturer Hyundai was planning to move a part of the i20 production in Europe, in an attempt to get tax benefits and bring the car closer to its largest markets. The company's managing director of the Indian unit currently responsible for the production of the i20 confirmed the report for Reuters saying that European plans will produce around 70,000 units per year.
Hyundai is currently building around 200,000 units of the i20 in India but the company is expecting growing sales figures to 580,000 in 2009.
“The labor unrest and the hefty monetary demands raised by a section of workers are really frustrating us. It made the company to get global attention. We never expected such a development when Hyundai has completely changed the industrial landscape of Sriperumbudur belt in the past 12 years," HMIL spokesperson, Rajiv Mitra, said back in May when the first reports hinting to a production shift to Europe started surfacing.
Hyundai i20 is one of the best selling models manufactured by the South Korean carmaker, especially in the countries with scrapping incentives that encourage people to purchase small-displacement and fuel efficient models.
"We got to the stage where we were losing money on every i10 and i20 sold. These cars could be sold at a profit in France or Germany, so we had to increase the price or risk losing future stock," a Hyundai source said some weeks ago when the first positive signs of the UK scrapping scheme boosted the company's sales.
Hyundai is currently building around 200,000 units of the i20 in India but the company is expecting growing sales figures to 580,000 in 2009.
“The labor unrest and the hefty monetary demands raised by a section of workers are really frustrating us. It made the company to get global attention. We never expected such a development when Hyundai has completely changed the industrial landscape of Sriperumbudur belt in the past 12 years," HMIL spokesperson, Rajiv Mitra, said back in May when the first reports hinting to a production shift to Europe started surfacing.
Hyundai i20 is one of the best selling models manufactured by the South Korean carmaker, especially in the countries with scrapping incentives that encourage people to purchase small-displacement and fuel efficient models.
"We got to the stage where we were losing money on every i10 and i20 sold. These cars could be sold at a profit in France or Germany, so we had to increase the price or risk losing future stock," a Hyundai source said some weeks ago when the first positive signs of the UK scrapping scheme boosted the company's sales.