New Delhi:
Korean auto giant Hyundai, a big player in the compact car market, is planning to further penetrate into the premium SUV segment by adding four sports utility vehicles in its portfolio over the next two years.
As per reports in a leading business journal, while Tucson will hit the Indian roads later this month (November 14), work is on to develop a compact SUV positioned below the Creta for launch in 2018.
Hyundai, which entered the Indian market two decades ago, is set to close cumulative sales (domestic and exports) of seven million units later this month (November 22-23). This is the fastest by any carmaker in India to reach the target, Hyundai claimed.
“We have attained this milestone in 18 years and 2 months, the fastest by any manufacturer in India,” said Rakesh Srivastava, senior vice-president (sales and marketing), Hyundai Motor India Limited (HMIL).
Hyundai claims its competition has taken 28 years to reach the mark, even though the overall market size was much smaller when its competitor had started operations.
