Hyundai Motors is not just keen on reaching the half a million sales mark, but also expects to emerge as the first one to reach that mark. The Korean automaker holds the second largest position in the Indian market. The Creta SUV is a considerable contributor to Hyundai sales in the country and with the newly launched Elantra, the company expects to see a further growth in numbers.
Back in 2015, Hyundai India sold about 4,75,000 cars in the country, while this year it expects to witness a growth of about 6 per cent. Currently, the Korean automaker holds about 17 per cent market share in the passenger vehicle segment and with the Elantra launch the brand now has an opportunity to strengthen its space in the executive sedan segment. Hyundai will be launching two new products every year and the next one to be rolled out during the festive season this year will be the premium SUV Tucson.
The newly launched Hyundai Elantra is currently imported from South Korea and if the company sees an increase in demand for the sedan, it will consider locally producing the vehicle. The upcoming festive season will also see a boost in sales owing to the implementation of the Seventh Pay Commission report. The company is also ramping up Creta production to reduce its waiting period and address the growing demand.
