Hyundai Motor India Ltd (HMIL), which completes two decades in India this year, plans to introduce 4-5 models in 2016. The second largest car maker aims to close the gap with the segment leaders and boost its share in the Indian automobile market.
The company will introduce special editions of compact cars Xcent and Grand i10 soon. These editions will have a new chrome design, accessories, enhanced entertainment features and sporty looks. “2016 is important for us. To celebrate 20 years of our success, we will introduce a special edition of Xcent this April at a competitive price for Indian customers. In May, we will roll out a special edition of i10, with new features and styling,” Y. K. Koo, Managing Director of HMIL told The Hindu .
Hyundai will also introduce a new version of its Elantra in August this year in a bid to regain its hold in the executive segment, which is now dominated by Toyota Corolla. With the new Elantra, the company is targeting a comeback from its current position at Number Four in the market.
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Mr.Koo also said that Hyundai had decided to heighten its focus on the SUV (sport utility vehicle) segment, which has become an attractive to Indian buyers. Hyundai seeks to up the ante with the introduction of the new premium compact SUV Tucson, which will hit India around the festive season this year. The company will also increase the production capacity for its Creta from June, which will reduce the waiting period from about 4 months to 2 months.In the mid-size sedan segment, with the recent introduction of its 2016 Verna, bookings have grown 25-30 per cent, he said. “We aim to double the present monthly volumes of Verna to 3,000 units shortly,” he added. HMIL is targeting sales of 6.65 lakh units in 2016 as against 6.43 lakh units last year. Of this, it aims to sell 5 lakh units in India and export the rest.