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Old 3rd April 2017, 19:23   #16
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Default Re: Hyundai to focus on increasing domestic market share

Hyundai India will be investing Rs 5,000 crores for developing and introducing 8 new models in the Indian market by 2020, according to Y.K. Koo, managing director and CEO, Hyundai Motor India.

Quote:
In 2015, India accounted for 13 percent of Hyundai’s global sales and that figure has jumped to 15 percent in the first two months of 2017. India is a very important market for Hyundai and that is why we are ready to invest Rs 5,000 crore in developing and introducing eight new products to this market by 2020. Out of those eight models, three will be for a new segment like our Ioniq hybrid which we will launch at the Auto Expo 2018.”
Quote:
A raft of new models is being developed, some of them specifically for India, like a compact SUV (code: QXI) based on the Carlino concept showcased at the 2016 Auto Expo. Hyundai is also developing what is internally called a ‘Family Design Concept', which is essentially a practical and spacious budget hatchback specific to India. The company is further studying a micro-SUV to rival the likes of the Mahindra KUV100.

There will be a full model change for some of the existing brands to keep Hyundai’s portfolio as fresh as possible. The Verna (code: HHI) will be replaced this August by the latest-generation model whilst the next-gen i20 and Creta are due for replacement in 2020 and 2021, respectively. The Creta is due for a facelift in late 2018 and will come with a mild hybrid option for both petrol and diesel engines.

Hyundai plans to aggressively push hybrid tech in India and will roll out mild hybrid options for the new Verna, possibly by the end of this year.
A new in-house AMT manufacturing facility is being set up which will allow Hyundai to offer a low-cost automatic option in its entry-level cars.
The company is tight-lipped on its plans to increase capacity but sources say that it is waiting for sister brand Kia to set up a plant in India and share some of its capacity.
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