Hyundai eyes the half-a-million sales mark for 2016

Hyundai Motors are aiming to achieve the half-a-million sales mark in India by 2016. They have set an aggressive target for themselves and plan to achieve it with the launch of new models for the Indian market.

The manufacturer increased their market share in our country in 2014 with their volumes increasing by 7.5 per cent at 4.11 lakh units. They now aim to double this figure to 14 per cent and 4.65 lakh units this year. Though the target is competitive, the company says that they expect the Indian automobile market to do better this year in comparison to last year making this goal realizable.

Bo Shin Seo, CEO and MD at Hyundai Motor India, said, "We increased our market share in 2014, but we are not satisfied as yet. With the new Verna and a compact SUV coming in, we will look at increasing the market share further. The improving sentiment and probable cut in interest rate on the anvil, we are hoping for an even better year in 2015."

Hyundai has done some aggressive product launches in the last two years which include the Grand i10, Xcent, Elite i20, Santa Fe, updated Verna and 1.0-litre Eon. This year, with the launch of the facelifted Verna and i20-based crossover, the company plans to increase their passenger vehicle market share. The carmaker has substantially done well in the Indian car market and emerged with incremental volumes, which surely makes us believe they should be successful in grabbing the market share they desire and aim to achieve.

Source: ETAuto