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Hyundai Motor Looking Big On Rural Markets With Small Car
Y K Koo, Senior Director (Sales and Marketing) of Hyundai said that in the first half of 2012, the small car will be launched and the company has no immediate plans to export the car.
He added that the company is planning to launch it in the first half of next year. The car will be manufactured in Indian plant and in the compact car segment, Hyundai Motor India is very strong. The company hopes to dominate the rural market with this launch. It is easy to penetrate into the rural market if we have a small car.
In the last year, the company did not have any new product. However, our competitors like Volkswagen, Ford and Nissan have all launched new vehicles. Hyundai doesn"t have any new launches and still the market share is at 19.7 per cent.
Further, the Korean car maker said that they are willing to decrease exports to meet domestic demands and as of now have no plans to increase plant capacity from the present 6.25 lakh units per annum. Hyundai exports around 2.25 lakh cars from India to other countries.
Yoo said that they have launched a new Verna this year. And to regain the market share of 20 per cent is their target for this year (Jan to Dec). The company aim to sell 4,000 to 5,000 units per month with this new Verna launch.
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