Hyundai Motor India Limited has been an active player in the premium segment of the Indian automobile market. The company is looking to launch several models in the mass segment to boost sales.
The company wants to increase its contribution to its parent firm Hyundai Motor Company which aims at around 15 percent of global sales over the next few years.
Hyundai Motor India recorded an overall sales figure of 6,43,270 units, including both domestic and exports and overtook Europe to become one of the top three overseas markets for the Korean car manufacturer in 2015.
In the previous year Hyundai India accounted for 13 percent of the parent company's global sales volume of 49,64,837 units. To further improve the sales, company is planning to launch several products in the mass segment over the next two or three years.
Earlier this year Hyundai has showcased its compact SUV Carlino at the Delhi Auto Expo. The new SUV was still in the concept form. The SUV is expected to hit the Indian shores in 2018.
Hyundai's Research and Development centre at Hyderabad is behind the development of the new compact SUV which will be also launched in the Chinese market.
Managing Director, Hyundai Motor India Limited, YK Koo said, "We have volume models and models launched to lead our image as a modern and premium brand. This year, we introduced two premium vehicles, the Elantra and the Tucson."
The compact SUV from the Korean car maker is expected to challenge the dominance of the Maruti Suzuki Vitara Brezza. Apart from that Hyundai is also speculating to introduce hybrid vehicle from 2018.
Hyundai will debut its hybrid vehicles during the auto show in 2018, the mild-hybrid vehicles will be offered in the mid-segment. Hyundai India is aiming to end this year with a domestic sales volume of 0.5 million units and exporting 25 percent of the vehicles produced.