The Korean car company Hyundai Motors India is not spared from the economy wave that swept the world in 2008. The company’s export potential to Europe has fallen sharply and search is on for alternative markets from South Africa and South America, said the company’s senior president for sales and marketing. The export market constitutes 48% of the net production, out of 650000 units manufactured annually while the domestic market has got 52%, which is expected to increase to 57%, he said. There has been a reduction of 25% in export to Europe due to the socalled economic recession. To compensate this cut there should be a boost of 10-15% this year in export market he added. The company’s R&D wing at Hyderabad is making efforts to analyse data, component development and domesticated components for various new products. While the company wants to increase the dealer network, the current capacity from two plants will be enough for facing the supply demand, he said.