Exclusive: Hyundai Eyes 3x Venue Exports; 35 Global Markets on Radar

Hyundai Motor India is looking to increase exports of the Venue from around 6,500 units currently to 15,000-20,000 units in the near future, with the India-made SUV expected to reach around 35 international markets.

Speaking to Autocar Professional at the SIAM Annual Convention, Hyundai Motor India Managing Director and CEO Tarun Garg said orders for the new Venue have already come from 28-29 markets.

“The new Venue is exclusively produced in India. Almost 28-29 markets have already given orders and, going forward, we are expecting orders from 35 markets,” Garg said.

Hyundai currently exports around 6,500 units of the Venue. Garg expects this to increase significantly with the new model. “Going forward, we can easily look at 15,000 or maybe 20,000 in the near future,” he said.

The planned increase comes as exports take a larger share of Hyundai India’s overall sales. Garg said exports contributed around 20% of sales three to four years ago, but have now increased to 24-25%.

Hyundai currently exports vehicles from India to around 75 countries. Latin and South America, the Middle East, Africa and other Asian markets are among its major export destinations.

The company is also nearing cumulative exports of four million vehicles. Garg said new models introduced in the coming years would further add to its overseas volumes.

Hyundai is also adding manufacturing headroom in India. Its Chennai and Pune plants currently provide a combined annual capacity of 994,000 units, while the full 170,000-unit capacity at Pune will become available from October 1 with the addition of a third shift.

Garg also sees India’s expanding network of free trade agreements opening up additional export opportunities.

“With all the FTAs which India is signing, maybe going forward there will be some more opportunities coming our way,” he said.

Hyundai’s export push comes alongside a broader expansion of its India product portfolio. Garg said exports would continue to play a more significant role for the company, with India serving markets across Asia, Africa, the Middle East and Latin and South America.