Auto
major Hyundai Motor India is
planning to put greater thrust on SUV segment with the launch
of two products in this category this year.
"The
next focus will be on sports utility vehicles. Two SUVs are lined up that will
be modern with premium feel," Senior VP and head of sales, Rakesh
Srivastava, said here today on the sidelines of the launch of all-new 4S
Fluidic Verna.
Without
elaborating on details, he said that both could be into the compact utility
vehicle segment.
SUVs account for 21 per cent of
the industry with 2.5 million units and the numbers are growing, Srivastava
said.
Hyundai was aiming
double-digit growth in 2015 against single-digit volume expansion forecast for
the overall passenger car segment during the year.
"With
robust product lineup, we are targeting double-digit growth in 2015 along with
increase in our marketshare by 1 per cent. In 2014 the company's marketshare was 16.3
per cent," Srivastava said.
"Now,
after surpassing four lakh units in domestic sales, we are looking at five lakh
number shortly despite the biggest challenge before the industry is on
growth," he said.
In 2014,
the passenger auto industry expanded by 3.2 per cent, with excise benefit over
the year before.
According
to reports, the company
was targeting four new models within one year to boost sales.
Srivastava
said, the company
did not wait for Budget or policy guidance before product launch, which was
done purely on internal strategy. However, the company doesn't have
any immediate plan to increase manufacturing capacity.
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