Hyundai Motor India will stop making the Santro in the last week of
November, thus bringing to an end, production of the car that launched
Hyundai in India. Since its introduction in October 1998, the company
has sold over 1.36 million units of the Santro in India, and exported
535,000 units.
Production of the car will be stopped as the company believes the
product is nearing the end of its lifecycle, reads the report. Also,
with the stoppage of production, it gives Hyundai additional capacity in
its plant for future models, or to increase production of hot-selling
Grand, Xcent or Elite.
Recounting the Santro’s launch in the late 90’s, former Hyundai
president and now an industry consultant, Mr. BVR Subbu, said that
Hyundai started making cash profits within seven months of the launch
thanks to the high demand. He said that the management would have been
happy if the local operations were able to sell 100,000 units in 5
years, whereas Hyundai ended up selling a million in 7 seven years.
General Motors will stop the production of the Chevrolet Spark, a direct
rival for the Santro since its launch as the Daewoo Matiz, the ET
report says. GM has sold over 165,000 units of the Spark since it took
over from Daewoo.
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