The Indian car market is a tricky place to operate for any company, be it Indian or based from another country. Constant fluctuations in demand, changes in consumer choices and the dynamism of the economy leaves a lot of things to be accounted for. In scenarios like these, for any car maker to achieve dominance can be considered a remarkable feat. Maruti Suzuki, the Indian subsidiary of Japan based Suzuki Motors, is one such company that can claim to be the supremo of the passenger car market. It is an understandable premise as, for a number of years now, no firm has been able to challenge its dominance in the segment. However, South Korean auto maker Hyundai has managed to stir things up by performing exceedingly well in India. As of now, the passenger vehicle market has only these two firms vying for the top spot.
Hyundai's rise in India has been the result of a steady and holistic approach, wherein the company has applied the right kind of strategies. The South Korean auto maker has been able to produce cars that match with sensibilities of the Indian buyer in general. Notably, the firm has based its operations on manufacturing hatchbacks, which are the most bought cars in India. The likes of Santro Xing, Eon, i10 and i20 have been huge successes due to their combination compactness, fuel-efficiency, suitability and affordability. Moreover, the firm has also catered to high-end buyers as well by bringing in cars such as Sonata, Verna and Santa Fe. Maruti Suzuki, on the other hand, has been operating in India for over three decades, a period that has given it an unprecedented amount of experience. Apart from this, it has also brushed off the challenges of rivals over the years.
If we analyst market trends in recent times, hatchbacks produced by Maruti Suzuki and Hyundai compete for the dominance in the segment. The Alto 800, WagonR and Swift from MSI has direct competition from the Eon, i10 and i20 from Hyundai, respectively. Not only this, these firms also battle it out for the spot of the 'most loved' brand in India. Both firms have strong advertising campaigns, which include TV commercials, newspaper advertisements and branding policies.
Recent reports have suggested that Hyundai has devised an aggressive strategy towards the Indian car market. The company plans to launch a number of new cars in order to pip Maruti Suzuki and become the top player in the passenger vehicle segment. Hyundai Grand i10, slated to be launched soon, is the first of the many cars that the company plans to introduce over the next few years. Industry experts feel that this might be a really difficult task for the South Korean firm to achieve. Maruti Suzuki, on the other hand, is expected to bring in the WagonR Stingray and the Alto 800 diesel to stir things up. Analysts have projected a really close affair between these two auto makers with Maruti Suzuki remaining ahead of its South Korean competitor for some years to come.
