Hyundai Motor India Ltd., famed for being India's second largest car maker, has gone ahead with the much anticipated launch of its new premium entry level hatchback 'Grand i10' in Kerala. Residents of Kerala would be able to avail the car with a base price starting from Rs. 4.37 lakh. This new model of i10 will be available in eight different variants. On the other hand, the diesel version has been offered at a higher price. Customers will be able to avail cars with diesel option with a price ranging from Rs. 5.33 lakh to Rs. 6.53 lakh (ex-showroom, Kochi).
Just after the launch, commenting on the current auto market crisis, Sanjay Pillai, company's Vice President (Human Resources & General Supporting), was quoted as saying, "The Indian automobile industry is going through a tough phase, and it will register negative growth this year." Furthermore, on being asked about the overall impact on the automotive market by various factors like slowdown, fuel price hike and rupee devaluation, he said that the market so far has seen a huge decline of about 25 to 30 per cent. Speaking about the impact of decline on Hyundai, he said that the current plunge in the market has also affected Hyundai in terms of volumes for the first seven months, but later on the company was able to improve its market share.
Clearly, from January to July in 2013, the auto major has lost volumes by 7 per cent. However, this seems to be compensated by an increase in company's market share from 18.2 per cent to 20.4 per cent. These numbers are for car models in the passenger car segment that are available in the automotive market.
Regarding the future expectations and endeavours, he Pillai said, "There are no plans to cut production at two Hyundai plants in Chennai, which has a total capacity of 6.40 lakh units per annum. Last year, the company exported about 2.50 lakh units and under 4 lakh units were sold in the country. This year the company expects a five per cent growth. Sixty per cent of its cars are sold in the domestic market. From January-July this year, exports have gone up by nine per cent."
In 2014, the company is planning to roll out several models. The auto major is also planning to launch several other new models by up to 2016, which also include compact SUVs. Speaking about the futuristic goals of the company, Pillai said, "We are working on something in the near future. We will not be going unrepresented in any section." On being asked about the gradually phasing out of Santro model, he said that company does not have any such intention as Santro has been a successful model in the market and still records a decent sale of 4,000 units a month, which is quite lucrative for the company.
