Hyundai Motors India Limited currently account for 20 percent of the market share in India. It is India’s second largest car manufacturer but witnesses tough competition in future from the entrants. Witnessing a fall in Maruti’s share, the company now braces itself with new plans for the Indian market. For starters, it intends to increase its capacity marginally by 70,000 units to keep up with the growing demand from the customers. Its latest model Hyundai i10 has picked up momentum in the Indian market and continues to post robust sales in the market.
Hyundai also intends to introduce new models in the country of which new Hyundai Elantra and Hyundai H800 are one of the most awaited ones. Hyundai intends to introduce a new 800cc model that will take place of Maruti 800 which has been gradually phased out from the Indian market. It will compete with Tata Nano and the new models priced between Rs. 2.5-3.5 lakh.
According to Arvind Saxena, director (marketing and sales), the company is focusing is on the domestic market as the demand is increasing but there is no major capacity increase planned currently which usually takes two years of planning and implementation.
