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Hyundai Has Its Eye On Maruti, Aims To Be Budget Car Leader
Hyundai has for long been the second largest carmaker in India, trailing behind Maruti Suzuki, which is the market leader by a huge margin. Hyundai Motor India has now been asked by the top management in South Korea to move on to the top, according to ET, which cites a Hyundai executive.
CH Han, chief coordinator of Hyundai Motor India has told ET that the bosses over in South Korea want Hyundai Motor India to at least become the "most loved brand" if not the largest brand by numbers sold.
So, is Hyundai on the right path? Let see. It is crystal clear that the Grand i10, revealed today, is targeted towards the Swift hatchback. Going forward, three more cars from Hyundai are expected to roll out within 18 months, one of which will be an Eon with a 1.0 liter engine that will challenge the Alto K10.
Further into the future, before the end of 2017, Hyundai will have a vast lineup, covering every inch of the ultra compact, compact SUV and compact sedan segment. Not to forget, a compact MPV to take on the Ertiga and a compact crossover, to parry Ford EcoSport and Renault Duster's assult, are also coming in the near future.
"We will continuously introduce one or two new models every year. In the small car space, we should have products in every segment, and it should be one of the best," Han told ET. "We are also very strong in bigger car segment already, that's why I think we have a bright future in India and we will continue to build our market share," he added.
That certainly is an aggressively plan Hyundai has in mind, but then Maruti also has a similar growth strategy. For that matter, every car maker is looking to flood the Indian market with cars from every imaginable segment. So, how is Hyundai any different?
If providing buyers with plenty of purchasing option is the only strategy Hyundai has in mind, then we don't see how it will ever overthrow Maruti in the foreseeable future. Maruti's strength has always been its extensive service network, combined with inexpensive spare parts and it is not clear to us what Hyundai's strategy is towards this end.
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