Hyundai India ended 2015/16 fiscal with a market share of 17.3%, their highest till date in the country. Last fiscal, the company ended with a market share of 16.2%. The company now aims to increase market share by 1% every year.
Increasing market share means increasing production. Hyundai India’s Chennai plant has two factories. These are the most utilized car factories in India with utilization level of over 91%.
In spite of being most utilized, Hyundai India has revealed that they do not need a car plant to meet their aims and growing demand of Indian car market. Hyundai states that with their current capacity they can juggle for next 3-5 years, without the need of a new plant.
To fuel sales growth, Hyundai India will be launching at least two new cars every year. This year, they have scheduled the launch of new-gen Tucson. Apart from this, they will also launch special edition Xcent and Grand i10, which marks Hyundai’s 20th anniversary in India.
Over the next few years, Hyundai will be focusing on launching new SUVs as this is where the most increase in demand has been registered. The company aims to launch their sub 4 m compact SUV in 2019 with a small 1.0 liter 3-cyl turbo engine. They will also introduce AMT tech in 2018.
Hyundai Tucson – Photos