Auto major Hyundai Motor India plans to launch 2-3 new
models every year till 2020 as a part of its efforts to further
consolidate its position in the country. The
company, which is the second largest car maker in India, eyes 1 per cent
growth in its market share each year during the period. Currently, the maker of various popular models like i20 and Creta,
Hyundai has over 16 per cent market share in the overall passenger
vehicle segment. “In the last two years we have
launched seven models. We plan to launch 2-3 new models, including full
model changes, every year continuously till 2020,” Hyundai Motor India
MD & CEO BS Seo told PTI here.
The company is targeting one per cent increase in its market share every year for the next five years, he added. As part of its long term strategy in the country, the company is also
developing models like a multi purpose vehicle (MPV), a small SUV and
full model changes for its sedans Elantra and Verna.
He however did not share launch details of the upcoming models. Commenting on the company’s strategy in lieu of rival Suzuki planning
to launch over 15 new models in India by 2020, Mr. Seo said: “Hyundai is
also watching the market very closely.” When asked
about plans to set up a new manufacturing plant in the country, he said:
“Nothing is confirmed as yet. We are watching the market closely”. He added that the automaker, which currently sells 10 models in the
country, would continue to introduce products with latest technology and
design in the Indian market.
“We will keep bringing
great products into the Indian market continuously to satisfy the
customers here. We want to be the most loved and trusted company in the
Indian market,” he said.
Hyundai inaugurated its first dealership here in Leh, thus strengthening its sales network in the state.
“Jammu & Kashmir is a significant market for Hyundai in northern
India and this dealership will help us to strengthen our presence in
this region,” he said.
No comments:
Post a Comment