Hyundai Planning Entry Into Compact SUV Segment

Elaborating on the company’s strategy, Srivastava said: “With the new products, along with refreshes of existing models and enhancement of our channels, we should be able to increase our market share by one percentage point each year in the next few years.”

In the January-July period of 2014, the company sold 2,35,432 cars in India, translating into a market share of 21.6 percent. During the same period last year, the company’s market share was at 20.4 per cent.

On festive season expectations, he said: “The last couple of years have been challenging for the industry. We have been bringing new products and this year we are poised to maximise opportunities in the season.”

In the last two years, he said, HMIL has successfully launched the Elantra, Grandi10, Santa Fe and Xcent models.

“The Elite i20 will be our fifth successful launch and the response we have had from the customers since launch on August 11 has been phenomenal.”

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