Tuesday, 20 August 2013
The world's fifth largest carmaker plans to launch three compact cars in India over the next 18 months in its bid to assume leadership position
Hyundai Motor India, the country's second-largest carmaker, has set an ambitious target to overtake Maruti Suzuki and take leadership position in the compact car market by the end of this decade by launching a number of vehicles.
C H Han, chief coordinator of Hyundai Motor
India, confirmed to ET that the South Korean parent has asked for
leadership position in India, "if not in numbers but definitely to be
the most-loved brand". He declined to share any target sales or market
share numbers.
The world's fifth largest carmaker will launch three compact
cars in India over the next 18 months — the all new global hatchback
Grand i10 with a 1.1 litre diesel engine, which will take on Maruti Suzuki Swift, Eon 1 litre to take on Alto K10 and the next generation i20 next year. The
compact small car segment constituted 52% of the overall passenger
vehicle market in the country with sales of 1.41 million cars in
FY13. Maruti Suzuki accounted for almost half of it with a market share of about 48%, while Hyundai was a distant runner up with 22% share. 
