Hyundai Predicts Happy Times Ahead; Sees Huge Potential In 2016

For the longest time, Hyundai has been the second largest car manufacturer in India when it comes to sales, behind only Maruti Suzuki. The Korean manufacturer has had a finger on the pulse of the sentiments of the Indian car buyer and has come out with models such as the Grand i0, Elite i20 and the Creta, which have been voted the Indian Car of the Year consecutively. At the opening of a company owned dealership, Hyundai recently said that it is expecting great things out of the New Elantra and the upcoming Tucson along with the Creta as well. In the first eight months of 2016 (Jan-Aug), Hyundai has grown at 9 per cent as compared to the 7 per cent that the overall industry has grown by. The company sold 3, 27,844 units in Jan-Aug 2016 as opposed to 3, 00,000 units in the same time last year. The Hyundai Creta was largely responsible for the increase in the number of units sold.

(Hyundai Tucson Front)

Hyundai plans to reach a target of 5, 00,000 unit sales for the domestic market and 1, 60,000 units for export before 2016 draws to a close. With the recent launch of the new Elantra and the upcoming launch of the new Tucson, Hyundai is confident that it can tackle these targets. With regards to the new Elantra, Hyundai has already received 500 bookings and almost 60 per cent are for the petrol model. The company has ramped up the production to 300 units a month and says the maximum waiting period for the Elantra will be 2 months. The Hyundai top brass said that it has calculated the industry size for the new Elantra at 1,000 units a month, which is ambitious.

Hyundai is positive of achieving its targets and going by its past record, we are sure it would.