Hyundai's specialty has always been the compact hatchbacks segment in which it has sold huge volumes running up to millions in India. Meanwhile, the Hyundai also plans to gain a significant share of the SUVs segment, after the launch of the Creta.
The Korean carmaker also added during the launch of the Hyundai Elantra a couple of days ago that it would introduce two new products each and every year to consolidate its position across multiple segments.
The effort would be to improve upon volume sales and make its name as the manufacturer of premium vehicles. The Hyundai's strength has always been the hatchbacks and now it wants to consolidate its position as a premium manufacturer of SUVs. And with the new generation Elantra, it also looks forward to making a headway into the executive sedan space.
Last week, the Elantra was launched at a starting price of Rs. 12.99 lakh and Rs. 19.19 lakh (ex-showroom, Delhi), for the top of the line variant. The revision of this launch price is likely to take place in December this year or early next year.
The executive sedan Hyundai Elantra sold more than 22,000 units from August 2012 to July 2016. The current target is set at 300 to 350 units to make the best out of the segment.
Hyundai Motors India Limited (HMIL) contributes to about 13 percent of the total worldwide sales of the Korean auto giant. Its Indian share is pegged at 17.1 percent. Come festive season, Hyundai expects this to jump to 25% share of the total market. The Korean manufacturer also expects to close the current year with sales of over 500,000 units.
Hyundai's festive season launch would be the much awaited Hyundai Tucson SUV, which the carmaker has currently confirmed and it will be offered with both petrol and diesel engines.