Hyundai India reports 14.7 percent increase in domestic sales during Dec 2014
Despite challenging market conditions, sales of Hyundai India during December 2014 reached 59,365 units as against 49,078 units sold in the same month in 2013. Sales in both domestic and export markets increased substantially. Domestic sales during the past month stood at 32,504 units as against 28,345 units sold in December 2013 resulting in an increase of 14.7%. Exports during the month of December 2014 stood at 26,861 units, up 29.6% as compared to 20,733 units sold in the month of December 2013.
HMIL enters the New Year with aggressive marketing plans and with an aim to introduce new utility vehicles. 2015 will bring in a compact sports utility vehicle and an SUV look alike crossover with HMIL investing around INR 1,500 crores on its development. The compact SUV, codenamed GS as on date will launch by mid 2015. It is based on the ix25 SUV platform and will compete against Ford EcoSport and Renault Duster once launched. To ensure that costs are low, the company will ensure that it is built with 90% local content.
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Apart from this, they will also introduce Verna facelift by March 2015. HMIL is also developing a crossover which will also launch during 2015 based on the Verna or Elite i20 platform. Expected to be called i20 Cross, this one will also launch by second half of 2015.
Early 2016 will see launch of a new multipurpose vehicle set to compete against Maruti Ertiga, Toyota Innova and Honda Mobilio. The company also targets double digit growth this year and an increase in market share. For 2014, Hyundai’s market share in India reached 21.6%, their highest ever. Other highlights of Hyundai in 2014 include, i20 Elite winning ICOTY, selling more than 4 lakh cars in the domestic market, and first Indian car brand to have 50 lakh fans on Facebook.