Hyundai planning to launch many new models over the next couple of years

by Mahesh Yadav on Saturday, Dec 17 2016

South Korean car maker, Hyundai is considering expanding its SUV range in a big way over the next two years’ time by launching 3 more SUV models. Hyundai Motor India, which is the second largest car maker in the country, has recently launched the new Hyundai Tucson premium Mid-November, which is garnering great response. And the company is now preparing to launch many more SUV models.

The South Korean car major has tasted superb success for its Creta compact SUV and is now planning to expand its SUV portfolio considerably to gain a strong foothold in one of the fastest growing segments of the Indian automotive industry. While the recently launched all new Hyundai Tucson has occupied the place above the Creta and below the flagship Santa Fe, Hyundai is also working on a sub-compact SUV model that will be placed below the Creta and is scheduled to launch in 2018.

Hyundai Motor India has established itself very well in India and has been recording great growth and sales milestones lately. The South Korean car major that entered the Indian market around two decades ago has recently crossed the huge sales milestone of 7 million units of cumulative sales towards the end of November. Hyundai is the fastest car manufacturing company to have achieved this sales milestone in India. As per Hyundai, its closest rival took 28 years to achieve this sales mark, which it has gained in around 18 years.

Hyundai Motor India Limited’s Senior Vice President of Sales & Marketing, Mr. Rakesh Srivastava said that the company has attained this significant sales milestone in 18 years and 2 months, which is the fastest by any car manufacturer in this country.

He added by saying that the Indian car buyers at present have evolved from being just price conscious to overall value conscious. The company has noticed that the average age profile of Hyundai customers range from 25 to 32 years, which is 5 to 7 years lower than the average age of customers in the Indian car industry. The company has also noticed that these customers spend 15 to 20 percent higher. He further said that the Indian SUV segment is a vast ocean, and that the company is aiming at the increasingly mobile consumers with the newly launched Tucson SUV.

With the launch of the new Hyundai Tucson SUV in India, Hyundai has not only brought in the Tucson brand back to this country, but has also filled in the gap which was there in the company’s product portfolio between the Creta and the Santa Fe. The South Korean auto giant also plans to launch a new vehicle model every year in India. The new Tucson has already garnered more than 500 bookings till end of November, which is great for a premium SUV of its class.

Apart from launching new car models, Hyundai India will also constantly update its existing product line-up to keep the young customer interest intact. Hyundai is also considering bringing in hybrid cars in India, which is expected to start happening in the next few years’ time.

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