India’s second biggest car maker, Hyundai Motor is keen to expand its car portfolio, and rip the dominant status of Maruti Suzuki, India’s most esteemed car manufacturer. The company has a string of new surprises some of which is the new i20 and i10.
A top official of the parent firm has announced for leadership status in the country at least in terms of brand preference if not figures. The company however did not mention about its target in terms of market share or sales. For ardent Hyundai fans there are some new launches within the next one and a half years with a grand i10 which will be equipped with powerful 1.1 liter diesel mill that would offer stiff competition to the popular Swift hatch of Maruti Suzuki. The new Eon also with 1 liter mill will compete with Alto K10 which is among the top selling cars in India; there would be a next-gen i20 as well for 2014.
Hyundai recorded 52% sales in passenger vehicle segment with release of 1.41 million vehicles for financial 13 period and hence over powered Maruti Suzuki with market share of 48%. During the 1st quarter of present fiscal period, Hyundai rolled out 25% share market, and with new launches the company expects to increase this figure to new levels in the near future.
Hyundai announced that it aims to work on 1 to 2 cars on a yearly basis, with the mini car segment, the brand image and quality should be supreme, the company is pretty dominant in the big car segment and this is one of the reasons to predict credible sales in the near future and hope to enhance share markets.
Some of the interesting launches of the company for 3 to 4 years from now is a below four meter sedan which is scheduled for the second portion of next year, after which there will be a multipurpose car to offer stiff competition with Maruti Ertiga, and the most exciting launch would be the mini compact Sport Utility Vehicle (SUV) that would compete with popular and classic models of Renault Duster and Ford EcoSport. This car is expected to release sometime during the 2015 to 2016 period. An interesting piece of information for luxury car enthusiasts is there would be a fresh version of Genesis for the Indian market.
Industry analysts are of the view that it is a tough task to out beat the dominant stature of Maruti Suzuki; this is not expected to happen within the next five to seven years.
Maruti Suzuki is immersed in some remarkable new projects as well, and is aiming for bigger models. The company adopts its own secret formula to achieve amazing success and brand image, this is pretty evident with its strong market shares acquired recently. The company aims to launch six to seven cars within 3 to 4 years from now from small vehicles to utility models. Some of the interesting launches are a SX4 crossover and sedan and a SUV adopted from AX Alpha theme.
Hyundai indeed has an incredible assembly line of new projects that would surely amaze the public to a whole new level in terms of brand image and sale outputs.