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Hyundai Motor India Limited (HMIL), the Indian subsidiary of Korean auto major Hyundai Motor Company, is currently working on sequencing product introductions like sports utility vehicles (SUV), multipurpose vehicles (MPVs) and sedans in the domestic market, said senior vice-president and division head (marketing and sales) Rakesh Srivastava.
“As a company, we believe in volumes, leadership, styling and features, besides giving the best price value equation to the customers. Our belief is that the Indian customer is always looking for something new. We should be in a position to give at least two such new products to them every year, besides refurbishing the current product portfolio,” he told mediapersons here on Tuesday.
Of the 156,000-unit-per-month passenger cars market in India, SUVs and MPVs together account for around 21 per cent, while the sedan segment contributes almost 27 per cent, a good size that interests Hyundai, according to Srivastava.
“Of the total passenger cars market, the below-four-metre sedan, a segment where tax benefits are given, accounts for around 22 per cent. This segment is also growing. We believe that we have the capability and the ability to actually bring in a product (below-four-metre sedan) there as well. These are the three areas where we would make production introductions,” he said, while declining to draw any time lines.
Launching Grand i10, Hyundai’s new brand in the compact high entry level segment, in the Andhra Pradesh market today, Srivastava said despite the market seeing a de-growth of 12 per cent, HMIL had strategised to meet its business plan of selling more than 645,000 units (including exports) this year, as against 641,000 units last year.
“In spite of the Indian automobile market going through one of the most challenging phases, HMIL has actually increased its market share to 20.4 per cent during January-July this year, a against 18.8 per cent last year. This gain came in largely through our strong product portfolio and the 370 dealerships pan-India. With the launch of Grand i10, we hope to post one of the highest market shares that HMIL has seen in the last five years,” he said.
“As a company, we believe in volumes, leadership, styling and features, besides giving the best price value equation to the customers. Our belief is that the Indian customer is always looking for something new. We should be in a position to give at least two such new products to them every year, besides refurbishing the current product portfolio,” he told mediapersons here on Tuesday.
Of the 156,000-unit-per-month passenger cars market in India, SUVs and MPVs together account for around 21 per cent, while the sedan segment contributes almost 27 per cent, a good size that interests Hyundai, according to Srivastava.
“Of the total passenger cars market, the below-four-metre sedan, a segment where tax benefits are given, accounts for around 22 per cent. This segment is also growing. We believe that we have the capability and the ability to actually bring in a product (below-four-metre sedan) there as well. These are the three areas where we would make production introductions,” he said, while declining to draw any time lines.
Launching Grand i10, Hyundai’s new brand in the compact high entry level segment, in the Andhra Pradesh market today, Srivastava said despite the market seeing a de-growth of 12 per cent, HMIL had strategised to meet its business plan of selling more than 645,000 units (including exports) this year, as against 641,000 units last year.
“In spite of the Indian automobile market going through one of the most challenging phases, HMIL has actually increased its market share to 20.4 per cent during January-July this year, a against 18.8 per cent last year. This gain came in largely through our strong product portfolio and the 370 dealerships pan-India. With the launch of Grand i10, we hope to post one of the highest market shares that HMIL has seen in the last five years,” he said.
