Hyundai is the second largest passenger vehicle maker in India and now it is coming up with SUV to strengthen its lineup in the country.
Hyundai Motor India plans to strengthen its SUV portfolio in the country as the vertical continues to outshine other segments and drive passenger vehicle sales in the domestic market , it is said by the top company officials who makes largest passenger vehicle now its preparing to come up with its new product “ seven-seater model ”in the country .
Hyundai Motor India Ltd (HMIL) MD and CEO SS Kim said, “The SUV segment is the market driver currently in the market . We have an edge globally when it comes to SUV’s. So going ahead we are going to consolidate our lineup and strengthen it in the country.”
The company led the SUV space in the country with sales of 1.8 lakh in 2020, and also sells model like Venue, Creta and Tucson in the current market.
In the recent years, it has been seen that SUV is witnessing an upward trends in the country. In 2019, sales of SUV were 25% of the total passenger vehicle sales. In 2020 SUV sales contribution of the segment rose to 29 % and in January and it was surged to be 33%.
MD and CEO SS Kim said “We will continue with production and sales of diesel cars in many segments of customer wants some products we will give that’s as we are a customer centric organization .
In an interview when asked if the company is planning to launch any MPV in the country ,Kim said
“ In the current market there is a demand for multi – seater vehicle so we are gearing up some products and preparing those products and hopefully in the future we can introduce something new , not specifically a multi -purpose vehicle (MPV) but vehicle with a multi seating configuration .
The automaker sells 11 models in the country but does not have an MPV in its product lineup.
During the April- January period of this fiscal year 2021, Hyundai led the segment with dispatch of 82,121 units, down 47.01% from the year- ago period. Kim also noted that the company would continue to offer diesel products in the country as the demand for such models was very strong in some states .
He also said that Hyundai will continue its production and sales of diesel cars in many segments. If a customer wants some products Hyundai will give that as Hyundai Motors are a customer centric organization .Kim also noted about the initiatives like Production linked Incentive (PLI) Scheme would help the company further strengthen its overseas shipments
“Government support is very important for the industry, not only in domestic market but also for exports. From the company perspective Hyundai were the first OEM which started exports of Made in India products”, he said. With new players coming in, government support is all the more critical now, he added. Kim noted that it would be very beneficial for the domestic auto industry if SUV could get some support from the government.
In the first week of March, Government is expected to give an PLI scheme .Kim said, his company is committed to Aatmanirbhar Initiative and the PLI scheme will not only augment the growth in the industry but also project the country as a very strong manufacturing base
