Hyundai Motors India Limited (HMIL), the largest car manufacturer and the second largest car exporter in the Indian market, is aggressively planning to expand its portfolio in the Indian auto market. The company plans as many as 15 launches in the country over the period of next five years. The announcement of rapid expansion of the India portfolio came from Hyundai, as the firm looks forward to protect and increase its market share in highly competitive Indian market.
At present, the market share of Hyundai in India stands at 18.3 percent as compared to the share of 21 percent about 18 months back. Thus, the increasing competition has posed a threat to Hyundai India of losing market share further. In a bid to protect and increase its market share, the company now plans to debut in the segments where it has no presence, so far.
While speaking to the reporters in Mumbai on Tuesday, Arvind Saxena, vice-president sales and marketing, Hyundai India, said, "The excitement in the market is derived out of only new models and the facelifts, so you have to be continuously working towards it.”
Meanwhile, the company is also looking forward to launch the LPG version of its recently launched small car EON. The move has been taken following a sharp rise in the price of petrol in the country.
