South Korean automobile major Hyundai, is going to introduce new products every year to boost volumes and strengthen its image as a modern and premium carmaker.
“We are strong in the compact car category. We have already attained significant market share in the SUV segment, with the new Elantra we will also strengthen our presence in the executive sedans’ space. In order to achieve market leadership we will introduce two new products every year,” YK Koo, Managing Director, Hyundai Motor India said.
To beef up its presence in the premium car category, Koo said the company will follow up the launch of the Elantra with premium SUV Tucson in October-November. The sixth generation Hyundai Elantra is priced between Rs 12.99 lakh and Rs 19.19 lakh (ex-showroom, Delhi). The introductory prices announced are applicable till December.
Koo said that he expects the passenger vehicle market in India to grow by 6 per cent to 2.92 million units in this calendar year. Hyundai, he said, will grow at par with the industry to close 2016 with domestic sales of 0.5 million units.
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