A diesel ban, high competition and a new market for electrics and hybrids; everything adds to the already developing India auto industry.
In such a tight situation every auto manufacturer wants to win the race. They have their own strategies and plans to come to the top.
Meanwhile, Hyundai announces its new strategy.This South Korean Automaker; already ruling the compact car segment announces that it would laugh two cars every year to boost its image.
"We are strong in the compact car category. We have already attained significant market share in the SUV segment, with the new Elantra we will also strengthen our presence in the executive sedans' space. In order to achieve market leadership we will introduce two new products every year," YK Koo, managing director, Hyundai Motor India said.
Hyundai had already launched Elantra on 23rd August, 2016. If sources are to be believed it plans to launch its much awaited Tuscon this October. Hyundai has sold approximately 22,000 Elantra from August 2012 till now. Hyundai aims to sell 300 units to gain a good market share in the executive sedan segment.
Hyundai has a market share of about 17% in the passenger vehicle segment. And the Indian subsidiary contributes to 13% of the total global sales.
"Last few years the industry saw challenges in festive volumes. This year is expected to be the best in terms of festive sales. We expect a 25 per cent growth in sales over last year during the festive period," said Rakesh Srivastava, senior vice-president (sales & marketing), HMIL.
