Hyundai – new thinking leading to newer possibilities
Hyundai – this South Korean venture created its amazing market for cars in INDIA with the very famous SANTRO and who knew then that soon INDIA would be its biggest market.
With already two plants in Chennai producing a gushing 6,80,000 units per annum its already selling off 94% of its produce. Ruling the Indian compact car market with its Elitei20 and potentially rising with the CRETA SUV it is undoubtedly creating newer possibilities.
In 2015,Hyundai’s sale in Indian increased to about 5.05 lakhs from the previous 4.76 lakhs; which is a marginal 6% increase. Having a 17.1% market share we have a lot of hope from HYUNDAI.
Wanting to increase the production to reach the increasing car demands in the country HYUNDAI’s newly appointed MD YK KOO is not likely to open a new production unit but plans to boost the old production houses in Tamil Nadu to about 7.2 lakhs/ annum. KOO is not surprized with the way the Indian market have shaped up. KOO might open a new unit ,if any, in GUJARAT, RAJASTHAN, ANDRA PRADESH or its very own TAMIL NADU.
There is no doubt in the fact that HYUNDAI is becoming everyone’s favourite with its ELITE i20 and CRETA but we see a lot of scope in there.
