Korean car major Hyundai is expecting its sales in the Indian market to grow by up to five per cent in the current year, with the planned launch of diesel and LPG variants of the small car i20 and sedan Accent.
To push its sales, the Indian subsidiary of the car maker -- Hyundai Motor India (HMIL) -- today joined hands with public sector lender Union Bank of India to provide retail finance to car buyers.
"We want to retain our market share, for which our sales have to grow according to the industry growth. Industry has been projected to grow by 3-5 per cent and we will also grow by the same rate," HMIL Senior Vice-President (Marketing and Sales) Arvind Saxena told PTI.
The company enjoyed a market share of 20.4 per cent in the domestic passenger car segment, which recorded sales of 12,19,473 units in 2008, he added.
Saxena said HMIL would launch the diesel and LPG variants of the small car i20 and sedan Accent respectively in 2009.
"We will launch LPG Accent by June, while the diesel i20 will hit the roads by the end of this year," he added.
In 2008, HMIL registered an overall growth rate of 49.6 per cent at 4,89,328 units over the previous year. The sales in the domestic market rose by 22.4 per cent at 2,45,397 units, while the company exported 2,43,931 units, up by 92.5 per cent.