Hyundai Motor Co. , India’s second biggest automaker, may build a network of as many as 1,000 rural outlets and introduce a cheaper small car after losing market share to Ford Motor Co. and Volkswagen AG.
Hyundai Motor Co., poised to earn the most profit among Asian carmakers this year, will step up its campaign to weaken Suzuki Motor Corp.’s loosening grip on India’s automobile market with a new hatchback.
India’s economy grew last quarter at the slowest pace in more than two years after the nation’s central bank raised interest rates by a record to tame the fastest inflation among so-called BRIC nations.
A Tata Motors Ltd. factory opening this month in western India to assemble the $2,500 Nano, the world’s cheapest car, may help the company surpass Hyundai Motor Co. this year as the nation’s second-largest automaker.
S.K. Singhal , head of textiles at India’s biggest fabric maker, bought the finest wool Australia ever auctioned this year to make fifty $12,500 suits. In the wedding and festival season starting tomorrow, he expects to sell the lot.