Hyundai aims to strengthen its SUV lineup in India

Hyundai Motor India plans to additional consolidate its SUV portfolio within the nation because the vertical continues to outshine different segments and drive passenger automobile gross sales within the home market, in accordance with a high firm official.

The corporate, which is the second largest passenger automobile maker within the nation, can be gearing as much as carry a seven-seater mannequin within the nation.

“The SUV section is the market driver presently. We’ve got an edge globally in relation to SUVs. So, going forward we’re going to additional strengthen our lineup within the nation,” Hyundai Motor India Ltd (HMIL) MD and CEO SS Kim instructed PTI.

The corporate led the SUV house within the nation with gross sales of 1.eight lakh items in 2020. It sells fashions like Venue, Creta and Tucson available in the market.

SUV gross sales have been witnessing an upward pattern within the nation within the latest years.  

In 2019, SUV gross sales have been 25 per cent of the overall passenger automobile gross sales. In 2020, the sale contribution of the section rose to 29 per cent and in January this yr it surged to 33 per cent.

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When requested if the corporate is planning to launch an MPV within the nation, Kim mentioned: “There may be market demand for multi seater automobile so we’re getting ready some product and hopefully sooner or later we are able to introduce one thing new, not particularly a multi function automobile (MPV) however a automobile with multi seating configuration.”

He nonetheless didn’t share the launch timeline or different particulars concerning the mannequin.

The automaker sells 11 fashions within the nation however doesn’t have an MPV in its product lineup.

Commenting on exports, Kim mentioned the pandemic has impacted the corporate’s shipments over the previous couple of months.

He nonetheless famous that with issues getting higher in many geographies the world over, the export volumes of the corporate would now be rising considerably.

Through the April-January interval of this fiscal yr, Hyundai led the section with dispatch of 82,121 items, down 47.01 per cent from the year-ago interval.

Kim additionally famous that the corporate would proceed to supply diesel merchandise within the nation because the demand for such fashions was very sturdy in some states.

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“We’ll proceed with manufacturing and sale of diesel automobiles in lots of segments. If a buyer needs some product, we are going to give that as we’re a buyer centric organisation,” he mentioned.

On authorities insurance policies, Kim famous that initiatives like Manufacturing Linked Incentive (PLI) scheme would assist the corporate additional strengthen its abroad shipments.

“Authorities assist is essential for the trade, not solely within the home market but in addition for exports. From the corporate perspective we have been the primary OEM which began exports of Made in India merchandise,” he mentioned.

With new gamers coming in, authorities assist is all of the extra crucial now, he added.

Kim famous that it will be very useful for the home auto trade if they might get some assist from the federal government.

“Authorities is anticipated to offer an overview of the PLI scheme within the first week of March, so we’re very carefully following that. We’re dedicated to the Aatmanirbhar initiative and the PLI scheme is not going to solely increase the expansion within the trade but in addition challenge the nation as a really sturdy manufacturing base,” he mentioned.

When requested concerning the firm’s stand on the upcoming second part of the company common gasoline effectivity (CAFE) and real-time driving emission (RDE) take a look at norms, Kim mentioned the implementation of the initiatives would result in a rise in materials prices, and it’ll ultimately result in value enhance of autos as nicely.

“We’re afraid that value enhance may have a detrimental influence by way of market demand and it might result in a low demand state of affairs. So if the federal government decides for perhaps one yr or three yr deferment that shall be very useful available in the market restoration,” he added.

The automaker has the required know-how and can be able to comply with the rules if the federal government decides to implement them from the unique timeline, he added.

This story has been printed from a wire company feed with out modifications to the textual content.

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