There has been strong growth factor reflecting in the Indian auto industry. New entrants like Ford Figo and Chevrolet Beat are posing strong competition to existing product portfolio of Hyundai and Maruti Suzuki. However, both the companies still hold a strong position in the Indian market and remain unperturbed.
India’s second largest car maker Hyundai Motors India Limited sold total 52,020 units in April 2010 against 44,370 units in the same month last year registering 17.2% cumulative growth. ““HMIL’s positive performance is a reflection of its strong product portfolio. The recently launched refurbished i20 has further strengthened its position,” said Arvind Saxena, Director - Marketing and Sales. Indian customers are posing strong demand for the recently launched i20 model that comes with new features and more fuel efficient engine. Hyundai i10 also has added features and the Hyundai i10 model continues to be a favoured choice amongst Indian customers.
Maruti Suzuki is not to be left behind where growth in Indian market is concerned. It has recently launched the new WagonR model with its more fuel efficient K-series engine. Maruti Suzuki India Limited reported a jump of 29.70 per cent in its sales for April this year at 93,058 units over the same month last year when it sold 71,748 units in April 2009. Exports surged by 89 per cent to 13,024 units from 6,891 units in the year-ago period, reported figures from MSIL.
