Hyundai will be launching refreshes, full model changes and all-new vehicles in India till 2020 with 2-3 models to go on sale every year while Maruti Suzuki has lined up 15 launches in the same time frame.
With humble beginnings in the Indian market almost two decades ago, Hyundai has not only earned the admiration of the masses but is also the second most selling auto manufacturer in India after Maruti Suzuki. This surely makes for an interesting case study about a company that sells 10 products in India with most of them being successful. Consolidating its market position further, the Korean giant plans to launch 2-3 new products in the Indian market every year by the end of this decade, similar to Maruti’s plan of launching 15 new products during the same period.
Hyundai recently conveyed that the company will be introducing all-new products and full model changes in the country continuously till 2020. While the automaker did not confirm the launch period for any of its new models, it did say that the next generation Elantra and Verna sedans will be launched in the coming years with the former unveiled globally last month in South Korea and is likely headed to India in 2017. In addition, the manufacturer is developing an MPV and compact SUV for the country while the Eon, Grand i10 and Elite i20 mid-lifecycle facelift will be on the cards in the coming years. The new generation Sonata will also arrive during this period.
Hyundai is eyeing a one percent increase in market share every year for the next five years escalating from the current 16 percent. The vehicles with extensive features, attractive design, constantly improving powertrain and competitive prices has managed to please customers with India being one of Hyundai’s biggest markets globally. In FY2014-15, the Korean giant sold over 4.20 lakh cars in the country growing at a rate of 11 percent and this number is said to grow further buoyed by the demand for new launches. Taking its sales network to newer heights, Hyundai recently inaugurated its first dealership in Leh, Jammu Kashmir further strengthening its presence across the country.