Hyundai Motor India has planned to further strengthen its SUV portfolio in the country and is preparing to bring a seven-seater model in India.
Hyundai Motor India has planned to further strengthen its SUV portfolio in the country and is preparing to bring a seven-seater model to India, a Zee Business report has said.
Citing a top official of the company, the report claimed that this segment is registering more sales in the domestic market than others and therefore, the company is ready to bring a new vehicle in this segment. Notably, Hyundai is the second-largest vehicle manufacturer in India.
1. Hyundai seven-seater model likely to launch in India
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The auto giant is gearing up to launch a seven-seater model in India Sports Utility Vehicle (SUV) segment, SS Kim, Managing Director (MD) and Chief Executive Officer (CEO) of Hyundai Motor India Limited (HMIL) informed. We have an edge globally in terms of SUVs. So going ahead, we are going to strengthen our SUV lineup in the country, they said.
(Image source: Hyundai)
2. SUVs recorded the highest sale
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The company led the SUV segment in the country with sales of 1.8 lakh units in 2020. The automobile company deals in models such as Venue, Creta, and Tucson in the market. SUV sales have seen a boom in the country in recent years. In 2019, SUVs comprised of 25 percent of the total sales of passenger vehicles. It increased to 29 percent in 2020 and in January this year, it increased to 33 percent.
(Image source: Hyundai)
3. Vehicle exports from India increased in January 2021
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Vehicles exports from India increased for the first time since the COVID-19 pandemic in January 2021. This indicates an improvement in demand in the major export market for Indian automobile companies.
( Image Source: Hyundai)
4. Auto giant gearing up to launch EV
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Hyundai is also preparing to introduce a new electric car, which will be the company's low-cost mid-size SUV car. The company will develop this car under its 'Smart EV' project. Currently, Hyundai Motor India Limited is studying the feasibility of launching a low-cost electric vehicle (EV) for consumers. The company is giving number one priority to this project. (Image Source: Hyundai)
5. Hyundai working on many fuels
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Manning Director Kim said, "We have the product and technology, and we are reviewing the condition and infrastructure situation of the Indian market. Hyundai Motor Company is one of the early adopters of electric technology, and we have various electric products. We are also very advanced in hydrogen fuel cell vehicle technology." Kim said that only Hyundai and Toyota sell these vehicles in the global market.
