Hyundai targets market leadership with new products

Chennai, May 6 (IANS) Korean car-maker Hyundai’s Indian arm Hyundai Motor India Ltd. (HMIL) hopes to gain market leadership by introducing two new products every year, a top company official said here on Friday.

“We aim to gain market leadership through the introduction of two new advanced products every year. We will have a complete line-up of products and have an offering in every segment,” said YK Koo, MD and CEO of HMIL.

He was speaking at a function to celebrate the 20th foundation day of the plant near here.

“We will also have a wide network of sales and service, dealerships in urban and rural centers, to be close to customers,” Koo added.

India is the third biggest market for Hyundai after China and the US.

According to Koo, the Indian arm of the company has sold around 42 units till April 2016 and a total of $3.1 billion has been invested in India.

“Beginning with just 20 cars in 1999, we exported over 23 lakh cars till March 2016, making us India’s Number 1 automobile exporter,” Koo said.

According to him, the research and development centre in Hyderabad is supporting the company’s global research and development.

–IANS

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