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Hyundai Strike Over

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Hyundai strike over after TN govt intervenes
BS Reporter / Chennai July 29, 2009, 0:59 IST

The sit-in strike called by employees of Hyundai Motor India Ltd (HMIL) at its Sriperumbudur factory, near Chennai, was called off today after the Tamil Nadu government

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Hyundai is shifting the i20 production to Europe for the European market's, coz the demand here is going thru' the roof. They say that they <Hyundai> sold some 4000 i20's this month. They were expecting to move roughly only 400 units a month. But I feel it could be the smoldering labor problem that has made Hyundai take the step. I think it's far from over.

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@ duragno dude

if the demand here in india is going through the roof' date=' why would hyundai shift the production of i20 abroad to europe? smiley5.gif

I smell something fishy.[/quote']

I read somewhere that the demand in Europe has gone through the roof. And also they are shifting only part of the production.Crazy cat2009-07-30 02:34:36

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@ duragno dude
if the demand here in india is going through the roof' date=' why would hyundai shift the production of i20 abroad to europe? smiley5.gif
I smell something fishy.[/quote']
I read somewhere that the demand in Europe has gone through the roof. And also they are shifting only part of the production.

 

I agree too.

Only Europe requirment production will be carried at europe plant.

India requirement will be made here smiley2.gif

Other wise we have to pay >10 L for i20smiley36.gif

 

Hyundai is going to use remaining capacity for their small car

(Source - Hindu)

 

 

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I heard that there are taxation benefits in manufacture in Europe. They are shifting to one of the cheaper new EU members.

Of course with the strike and our archaic labour laws, with I believe a hefty dose of baksheesh thrown in for the 'mediators' they might as well be looking for an additional manufacturing hub.

sgiitk2009-07-30 05:16:42

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In todays sakal paper (pune). then are mentioning hyundai is planing to buy 1000 more employee.. to work in three shifts ..is it true?  Then why these new of shifting the production outside india

Reasons are,

 

1. South korea made free trade agreement with Europe countries

2. So South korea cars are now 10 % cheaper in Europe due to no Import duty

3. India made cars are 6.5 % more cost due to import duty because of no free trade agreement between Europe & India.

4. Hyundai India expecting some tax benefit from Indian govt. because of they are number one car exporter from India (Around 25000/cars month being exported smiley1.gif . Made in indiasmiley4.gif)

5. Now Hyundai india facing competitaion from their parental company from south korea thats why they want to shift i20 to Europe to avoid tax

6. Any way they will not shift 100% production to europe, Only 50% will be transferreed and remaing 50% will be used for India requriement.

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Then why do they need 1000 more employees?

Hyundai starting 3rd shift production to meet more export order. Because europe countries giving upto 3000 Euro (Around 2,00,000 Rs) tax benifits to who are all buying small cars which having more fuel efficiency. This will help to europe countries to reduce their import cost by reducing petrol import cost.

 

Thats why maruti export qty increased from 5000/month to 10000/month and Hyundai export increased to 25000/month.

 

Best selling indian cars in europe is i10,i20, A star (named alto in europ)

 

Because of huge sucess of i20 in europe countries hyundai increasing their production & recruiting more people. Thats why hyundai launched only premium i20 cars in india and if they introduce low priced i20 similar to swift Lxi then their production capacity will not meet indian demand

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