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Hyundai India to introduce 1 new model every year till 2020

Hyundai India to introduce 1 new model every year till 2020
Nikhil Puthran Nikhil Puthran Tuesday 29 December 2015, 14:22 PM

Hyundai Motor India Ltd has been a strong competitor against the country’s largest automaker Maruti Suzuki. In recent times, the Korean automaker has introduced an interesting fleet of vehicles namely – Third-gen Santa Fe, Hyundai Verna, Grand i10, Elite i20, Xcent and the Creta SUV for the Indian market. As revealed by sources, the company plans on introducing one new model every year till 2020. The company shall also introduce facelifts and upgrades on existing models alongside intended launch of a fresh model every year.

Sources have further revealed that the company shall invest around Rs 1,000 crore every year for development of new models. Moreover, Y K Koo, Managing Director and CEO of Hyundai Motor India has further stated to sources that they expect to witness a 1 percent market share growth every year. As for plans for next year, Hyundai is likely to introduce the sixth generation Hyundai Elantra sometime by the second half.

Source: HBL

 

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