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Hyundai plans to tap new customer segments

Hyundai to launch the new i20 on August 11, pre-bookings open

Korean marque Hyundai plans to tap new customer markets to increase market share in the Indian automotive sector. The company suggests that it will launch a new product every year in a segment where it is not present at the moment.

The first such product launched was the Hyundai Xcent. It entered the fast moving compact sedan segment where Hyundai did not have a product offering. Hyundai also plans to enter the compact SUV segment along with the multi-purpose vehicle (MPV) segment soon.

Hyundai will launch the Elite i20, which will replace the old i20 and is based on a completely new platform. The company also mentions that they will keep launching refreshed variants of their existing line-up of cars going forward.

Hyundai registered the domestic sales of 29,260 units and exports of 18,750 units with cumulative sales of 48,010 units for the month of July 2014. This is a domestic sales growth of 12.7% over July 2013.

Source – ET Auto