Hyundai India, the 2nd biggest automobile manufacturing of India is planning to launch around 10 to 15 vehicles by the year 2015. As per Hyundai India sales reports, the market share of the company has fallen to 18.3 percent from 21 percent in the past one or two years. Mr. Arvind Saxena, Marketing and Sales Head of Hyundai India said that customers are in the market looking for high end vehicles with fresh styling and brand new technology. So, to keep up with market demand, the automobile manufacturing companies are constantly working towards designing and engineered something that appeals to discerning buyers.
In addition for overcoming petrol price crisis in India, Hyundai India is planning to launch the LPG trim level of Hyundai Eon, the most economical and affordable hatchback. Because of the lack of several car introductions and astoundingly fast paced growth in the economy of India, the Indian automotive industry has observed tremendous growth over the past couple of years. But the current sky rocketing interest, fuel price revisions and high inflation rates on loans have played a significant role in bringing down sales growth in the Indian automobile industry. Nevertheless, with implementing well-considered strategies and proper positioning of car introductions, the vehicle market experts predict a growth of 12 to 14 percent by 2016.
In tandem with other automobile manufacturing companies, Hyundai India is planning to launch several cars ranging from Hyundai Verna to compete with Honda Civic and Chevrolet Cruze. Apart from this, Hyundai is also expecting to introduce the Hyundai i20 and Hyundai i10 facelifts. Additionally, the company also plans to enter into the sport utility vehicle segment. The closest rivals of Hyundai India are Maruti Suzuki India Limited, Ford India, General Motors and Renault-Nissan. The General Motors will be introducing around 6 to 8 cars, while Renault-Nissan will launch 10 to 15 vehicles in India in the coming years. Ford India also proclaimed that in the starting of the year, it will introduce 8 cars, out of which Fiesta Saloon is already introduced.