With sales of 476,001 units in calendar year 2015 in the domestic market, Hyundai Motor India has gone past Europe which was third-placed in 2014.
03 Feb 2016 | 4329 Views | By Shobha Mathur
Hyundai Motor India, which has showcased the new Tucson at the Auto Expo, has become the third largest foreign market contributor, outside of Korea, to Hyundai Motor’s global sales. With sales of 476,001 units in calendar year 2015 in the domestic market, Hyundai Motor India has gone past Europe which ...
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Hyundai Motor India, which has showcased the new Tucson at the Auto Expo, has become the third largest foreign market contributor, outside of Korea, to Hyundai Motor’s global sales. With sales of 476,001 units in calendar year 2015 in the domestic market, Hyundai Motor India has gone past Europe which was third-placed in 2014. The Indian arm of the Korean carmaker currently contributes 13 percent to the group’s global sales. China is No. 1 with sales of a million units in 2015, followed by the US with 700,000 units.
Speaking to Autocar Professional on the sidelines of the Auto Expo, YK Koo, managing director and CEO, Hyundai Motor India, said that of Hyundai’s top three foreign markets, the Indian operation is posting the fastest growth rate compared to a slowing China and a plateauing US.
According to Koo, the company plans to launch two new products in India each year while existing vehicles will get new variants. Furthermore, he revealed that there are plans to introduce turbocharged petrol and diesel engines (1.0-litre and above) in the existing model line-up and new models.
Commenting on the BS VI emission norms by the year 2020, Koo said that Hyundai Motor India, which exports currently exports its cars to over 90 countries across Africa, Middle East, Latin America, Australia and the Asia Pacific, is well equipped to handle the technology change.
Meanwhile, it is understood that the company plans to ramp up production capacity for the popular Creta SUV, which currently has a three-month waiting period, by June 2016 to 10,000 units per month.