Korean car manufacturer Hyundai, the leader in the compact car segment will add four sports utility vehicles to its product portfolio over the next two years.
Hyundai is trying to raise its premium car segment by adding these SUVs. The all-new Tucson will be launched in Indian market on November 14, 2016. Hyundai is also working on a compact SUV positioned below Creta which is slated for 2018.
Hyundai entered the Indian automobile scene two decades ago and is all set to achieve a milestone of seven million units of total cumulative sales later this month.
This the fastest by any car manufacturer in India to reach this milestone. Hyundai states that its competition took 28 years to reach this mark.
Senior Vice-President, Sales and Marketing, Hyundai Motor India Limited (HMIL), Rakesh Srivastava said, "We have attained this milestone in 18 years and 2 months, the fastest by any manufacturer in India."
He added, "Indian customers today have evolved from being simply price conscious to value conscious. At our end, we have seen that average age profile of our customers - at 25-32 years - is 5-7 years lower than that of the industry."
He further said, "Their spends are 15-20% higher. The SUV segment is a blue ocean. We are targeting the upwardly mobile consumers with the Tucson."
The Tucson SUV will bridge the gap between Creta and the Santa Fe SUV in the Indian market. The company also plans to bring a new model each year in India.
Apart from the new models the existing models will be also updated. The hybrid cars are also on the cards which are expected to enter the markets by next two years.