Hyundai to launch 2-3 new models every year

Hyundai Motor India has been on the offensive in the Indian market lately and plans to continue its onslaught further. The company has plans to launch 2-3 new models every year till 2020 in order to strengthen its Indian operations.

Hyundai, which is the second largest car maker in India, is looking at one per cent growth in its market share each year, till 2020. Presently, Hyundai has over 16 per cent market share in the passenger car space. Hyundai Motor India MD & CEO BS Seo said, “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.” “The company is targeting one per cent increase in its market share every year for the next five years”, he added.

The company is also working on developing new models including a small SUV and complete facelifts for its existing models like Elantra and Verna. On setting up new manufacturing facilities, Seo said, “Hyundai is also watching the market very closely. 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 upcoming models. company in the Indian market,” Seo said. Hyundai has inaugurated its first dealership in Leh, thereby strengthening its network in J&K 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,” Seo said.

Source: TOI