HMIL is optimistic about the scale of growth of Indian operations this year. In 2014, Hyundai sales grew by 8 percent when the industry managed to expand only by 3.2 percent. This year, growth of industry is expected at 7 to 8 percent, while Hyundai India is aiming 13 percent higher sales compared to last year’s numbers. For which, the company has to sell 4.65 lakh cars in India this year.
In 2014, Hyundai had market share of 16.2 percent in India. This year, the carmaker expects an increase of one percent, accounting for 17.2 percent of Indian car sales.
Overall, the South Korean automaker is hopeful of crossing 60th lakh production milestone in India, in 2015. The split up is 40 lakh units for domestic market and 20 lakh units for exports.
While HMIL Senior Vice President of Sales and Marketing, Rakesh Srivastava, told ET about the company’s performance and targets for this year, HMIL Managing Director & CEO, B S Seo, said when Hyundai Elite i20 was launched, expected monthly sales was 15,000 units, which didn’t happen. The firm has been consistently selling around two-thirds of that, 9,000 units per month over the past five months, twice crossing the 10k mark.
With new i20 Active, Hyundai India expects total sales of i20 brand to get closer to the original target in due course. They did not mention the sales expectations by numerical value, but said they are aiming around thrice the monthly sales of Toyota Etios Cross (which sells around 900 units per month).
Via – Economic Times