Hyundai plans to strengthen its SUV portfolio in India
The country's second-largest passenger vehicle maker, Hyundai has said that it plans to further consolidate its SUV lineup in the country. The company is gearing up to launch a seven-seater model here. This comes as the SUV vertical continues to outshine other passenger vehicle segments in the country, driving the sales numbers.
Hyundai led the SUV space in the country last year with sales of 1.8 lakh units. Its current SUV portfolio includes Venue, Creta and Tucson. "The SUV segment is the market driver currently. We have an edge globally when it comes to SUVs," the company's MD and CEO SS Kim was quoted as saying by PTI.
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In 2019, SUV sales contributed 25 per cent to the total passenger vehicle sales in the country whereas this figure rose to 29 per cent in 2020. In January this year, SUV sales have surged to 33 per cent.
Hyundai also plans to bring in an MPV in the country. "There is market demand for multi seater vehicle so we are preparing some product and hopefully in the future we can introduce something new," Kim added.
Further talking about the company's export figures, Kim said that though the sales have been affected due to the coronavirus pandemic, things are now getting better in many countries and that the export volumes would increase substantially. Hyundai dispatched 82,121 units in April-January period of this fiscal year, highest in the segment. However, the figures were down 47.01 per cent from the year-ago period.
The company official also highlighted how government initiatives such as the PLI scheme would help the company strengthen its overseas shipments. "We are committed to the Aatmanirbhar initiative and the PLI scheme will not only augment the growth in the industry but also project the country as a very strong manufacturing base," Kim said.
He also said that Hyundai is committed to offering diesel products in the country as the demand for such models has only seen an uptick in some places.
(With inputs from PTI)