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Hyundai's SUV Share Soars To 68%, Expanding Diverse Offerings In Indian Market

Hyundai's SUV Share Soars To 68%, Expanding Diverse Offerings In Indian Market

Business Today
Business Today
  • New Delhi ,
  • Oct 9, 2024,
  • Updated Oct 9, 2024, 5:51 PM IST

 

Hyundai Motor India’s Chief of Operations, Tarun Garg, discussed the evolving market dynamics and Hyundai's strategic positioning within the Indian automotive landscape. He noted a significant increase in the share of SUVs, which rose from contributing only 13% of the market in 2015 to an impressive 68% in recent months. This growth is attributed to Hyundai's strong global experience, allowing the company to identify the potential for SUVs in India. Garg highlighted the recent launch of the Alcazar and the positive reception for their offerings, emphasizing that Hyundai is not solely an SUV manufacturer. The company continues to deliver strong sedan models like the Verna and Aura, catering to diverse consumer preferences. Hyundai's strategy includes addressing price-sensitive customers by providing various options, including petrol and diesel variants, to meet different market needs. Garg pointed out the importance of offering a range of technologies, including electric vehicles (EVs), to sustain growth in a vast and diverse market like India. This approach helps Hyundai effectively reach a broader audience while adapting to changing consumer demands and preferences.

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