Unsoo Kim, Managing Director, Hyundai Motor India, stated, India is a “focal” marketplace for the corporate. “As we stay up for the subsequent decade of progress for Hyundai Motor India, we are going to make strategic investments in direction of rising manufacturing capability, establishing new manufacturing models, democratizing EVs, introducing merchandise and applied sciences matching buyer and nation’s goals”, Kim stated on the sidelines of the launch of the Creta N Line priced between Rs 16.82-20.29 lakh (ex-showroom).
Hyundai Motor India lately dedicated investments to the tune of Rs 32,000 crore throughout Tamil Nadu and Maharashtra to in direction of capability enlargement, launch of latest merchandise, establishing battery pack meeting models, and different initiatives.
The corporate has obtained robust response to its newest launch SUV Creta, which has clocked greater than 80,000 bookings in little over a month of launch. Tarun Garg, Chief Working Officer (COO), HMIL, stated the corporate is within the strategy of ramping up capability to cut back ready on the product.
Within the ongoing calendar yr, the corporate expects practically two-thirds of its gross sales to return in from SUVs, backed by a refreshed product portfolio. Hyundai Motor India recorded 60% of its gross sales from SUVs in CY2023.
General, Garg stated he expects the demand momentum to proceed within the native market regardless of international uncertainties. “The Indian market is resilient and will develop in low single-digits this yr. That is good on condition that we now have had two years of document gross sales,” he stated.Gross sales of passenger autos within the home market grew by 8.2% to breach the 4 million-mark for the primary time in 2023. Hyundai too registered best-ever gross sales of 602,111 models final yr.