Hyundai Motor India Ltd (HMIL) expects new product launches to help the company sustain sales momentum next fiscal even as it sees short-term challenge to demand after BS-VI norms come into effect from April 1, a top company official said.
The company, whose market share has increased by 1 per cent this year despite a 7 per cent de-growth in overall volume, is also gearing up to cater to diesel vehicle demand with main rival Maruti Suzuki India walking out of the segment.
"Last year (2019-20) has been a very challenging period not only for us but for the entire industry. We witnessed a de-growth despite launching products like Venue and Kona. Our annual volume de-grew by 7 per cent last year, but still our situation was better than the industry," HMIL MD and CEO SS Kim told PTI.
On company's outlook for next fiscal, he added: "We strongly believe that the sales momentum can be carried forward in coming year as well because we are launching Aura, new Creta shortly and other products as well...I believe we can outperform and can do better in coming year as well."
When asked about the entry of Chinese automakers in the country and its impact on established players like HMIL, Kim said, "The difference between us and them is that while they are bringing their existing products, we have been developing products specifically for the Indian market."