Wednesday, 9 November 2011

Hyundai Motors plans 10-15 new launches in next 5 years

Hyundai Motors has planned 10-15 new models and facelifts in next four to five years in an attempt to boost the market share in the Indian market. The company's market share has fallen to 18.3% from earlier 21% in last 12 months.

The company has recently launched the entry level car Eon which takes on the likes of Maruti Suzuki Alto and Chevrolet Spark. The company now also plans to launch an LPG variant of the car. The car was earlier spotted testing for the Indian market. Apart from this the company wants to gain the market share and hence would launch a new fluidic sedan placed above Verna matching to the likes of Chevrolet Cruze and Honda Civic. This we have already briefed you would be a Fluidic Elantra. Apart from this there would be facelifts models to be inrtoduced for exisiting i10 and i20 models.

Other major automakers including Ford, Chevrolet and Renault Nissan has also lined up multiple launches for the Indian market for which Ford sees 8 launches, Chevrolet sees 6-8 new launches and 10-15 another launches from Renault Nissan stable.

This clearly shows that the life cycle of the vehicles has certainly reduced now and the newer models will be introduced for the Indian market within a shorter time period for the market which means the earlier models will be phased out much earlier than it used to happen earlier.

Customers are bitten by the novelty factor. Anything which offers better value to the customers will be sold," said Pradeep Saxena, executive director at marketing research firm TNS Automotive.

With Eon at the bottom end and Santa Fe at the top, Hyundai will study all segments within this range that could make sense for the Indian market, Saxena said. With widening price differential between diesel and petrol, Hyundai has not ruled out compact diesel cars in future.

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