Having set a firm foothold in the Indian automobile market in the last two decades, Korean auto major Hyundai is challenging Maruti Suzuki for “market leadership” for which it will launch ‘two new advanced products every year’ in the country.
The company’s arm, Hyundai Motor India ltd (HMIl), which celebrated its 20th foundation day today, said it will have a complete line up of products and have an offering in every segment as part of its vision for the next two decades.
The vision will be dedicated towards market leadership, becoming the most loved, trusted modern premium brand and great place to work, HMIl Managing Director Young Key Koo said here.
“We aim to gain market leadership through the introduction of two new advanced products every year. We will have a complete line up of products and have an offering in every segment,” he added.
In 2015-16, HMIl was the second largest passenger vehicle manufacturer in India selling a total of 4.83 lakh units as compared with market leader Maruti Suzuki’s 13.05 lakh units.
Koo said the company’s R&D in India is playing a big role in developing products with innovative features which are high on safety and reliability, of high quality.
“Our R&D centre in Hyderabad is supporting our global R&D centre to develop these exclusive features for Indian conditions,” Koo said.
Stressing on the need for network expansion in order to meet its goals for the next two decades, he said: “We will also have a wide network of sales and service, dealerships in urban and rural centers, to be close to customers.”
HMIl has 449 dealers and more than 1,150 service points across India.