New Delhi, February 29, 2008: The Union budget announced today brought about the much awaited excise duty cut for the small car segment at a time when the industry was just beginning to witness flattening growth curve. Hyundai Motor India the country’s second largest passenger car manufacturer and the largest exporter which offers a full range of cars starting from compact to premium luxury cars will offer its customers a much revised price package for it compact cars.

The competitive price of Hyundai cars are set to become even more competitive after this years Union Budget with the price cut going as high as Rs 19,419 for its Getz Prime CRDi mode. The HMI range of cars now start at an attractive Rs 261,631 for it flagship model – the Santro and goes up to Rs 351,482. The newly launched, segment defining, i10 sports a new price tag of Rs 330,686 making it one of the best priced cars in this segment.

Model	Price reduction range
Santro	Rs 8,730 –  Rs 13,278
i10	Rs 11,047 – Rs 16,324
Getz Prime	Rs 13,169 – Rs 19,419

Commenting on the Government’s decision to revise excise duty, Arvind Saxena, Sr. VP Marketing & Sales, HMI said “we welcome the attention to the automobile industry in this budget and the Finance Minister’s gesture of bringing down the excise duty. At a time when the industry sales seemed to be tapering off this has come as major boost and it will help the industry maintain its growth rate. Today 75% of the car sales are that in the compact segment and this cut in excise duty will benefit the manufacturers and the customers alike. As for Hyundai it has made our products more attractive to our customers”.

The price changes will be in effective from 1st March 2008.

About HMIL
Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company, South Korea and is the second largest and the fastest growing car manufacturer in India. HMIL presently markets 34 variants of passenger cars across segments. The Santro in the B segment, Getz Prime, i10 in the B+ segment, the Accent and Verna in the C segment, the Elantra in the D segment, the Sonata Embera in the E segment and the Tucson in the SUV segment.

Hyundai Motor India, continuing its tradition of being the fastest growing passenger car manufacturer, registering total sales of 327,160 vehicles in the calendar year (CY) 2007, an increase of 9.2 percent over CY 2006. In the domestic market it clocked a growth of 7.6 percent as compared to 2006 with 200,412 units, while overseas sales grew by 11.8 percent, with exports of 126,748 units.

HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boast the most advanced production, quality and testing capabilities in the country. In continuation of its commitment to provide the Indian customer with global technology, HMIL is setting up its second plant, which will produce an additional 300,000 units per annum, raising HMIL’s total production capacity to 600,000 units per annum.

HMIL is investing to expand capacity in line with its positioning as HMC’s global export hub for compact cars. Apart from expansion of production capacity, HMIL plans to expand its dealer network, which will be increased from 230 to 300 this year.

The year 2007 has been a significant year for Hyundai Motor India. It achieved a significant milestone by rolling out the fastest 400,000th export car. Hyundai exports to over 73 countries globally; even as it plans to continue its thrust in existing export markets, it is gearing up to step up its foray into new markets. The year just ended also saw Hyundai Motor India attaining other milestones with the launch of the i10 and yet another path-breaking record in its young journey by rolling out the fastest 15,00,000th car.

The Hyundai Verna has bagged some of the most prestigious awards starting with the title of "Car of the Year 2007" by India`s leading automotive publication – Overdrive, the “Best Mid-size Car of the Year” award by the NDTV Profit C&B Awards 2007, the “Best Value for Money Car” by the CNBC Autocar Auto awards and ‘Performance Car of the Year 2007’ from Business Standard Motoring.

Last Year Sonata Embera won the ‘Executive Car of The Year 2006’ award from Business Standard Motoring Magazine and NDTV Profit – Car & Bike declared the Tucson as the ‘SUV of The Year 2006’. HMIL has also been awarded the benchmark ISO 14001 certification for its sustainable environment management practices.