Hyundai hopeful about 2015, targets double-digit growth | business | Hindustan Times
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Hyundai hopeful about 2015, targets double-digit growth

business Updated: Mar 17, 2015 23:29 IST
HT Correspondent
Hyundai Motor India

The country's second largest car maker Hyundai Motor India on Tuesday said it expected 2015 to be better than the previous year for the automotive industry.

"We expect to sell 4.65 lakh units this year, a growth of 13%. Last year we had a market share of 16.2% and this year we expect it to increase to 17.2%," said Rakesh Srivastava, senior vice-president of marketing and sales, Hyundai Motor India.

The company said it expected the industry to grow by 7% in 2015 and that its higher growth would enable it to shore up more market share.

"We have launched 5 new products in the last 18 months and that gives us a good traction even in a sluggish market," said Srivastava.

Hyundai had grown by 8% in 2014 but it had led the industry that grew by only 0.66%.

The company on Tuesday launched Elite i20 Active, a stylised version of its latest best-selling small car Elite i20, at Rs 6.38-7.09 lakh for the petrol and Rs 7.63-8.89 lakh for the diesel versions.

Hyundai expects Active, which is styled like a crossover, but without the capabilities of an SUV, to become a leader in this emerging segment and sell twice or thrice as much as Etios Cross' monthly sales of 800-900 units.

Hyundai is also getting ready to launch a proper SUV based on the iX25 concept that was showcased in China last year.