Hyderabad: South Korean automobile maker Hyundai expects its car sales to cross 4,00,000 in the Indian market during the current year even as the car sales pick up pace after a prolonged slowdown.
“We are touching for the first time 400,000 car sales in the domestic market in India. By the year end, we might touch 420,000. [Apart from this], we expect to export 2,00,000 units,” said Hyundai India executive director Y.J. Ahnwl.
Currently, he said Hyundai has a 16.45 per cent share in the Indian car market and is hopeful of posting upto nine per cent growth in sales next year. Though Hyundai’s plants are running at its full capacity, Mr Ahnwl said the company has yet to take a decision on ramping up its factory capacity in India.
Mr Ahnwl also added that Hyundai is planning to launch two new vehicles maiden compact SUV in the first quarter of 2015 and the renewed elite i20 in the third quarter 2014.
“Hyundai is having only high-end SUVs in India. We are entering the new segment with the launch of a compact SUV next year,” said Mr Ahnwl.
He, however, is not bullish on the future of diesel-run vehicle even as the reducing price difference between petrol and diesel is expected to narrow down futher going forward.
According to SIAM, around 25 lakh four-wheelers are sold in India and the market size is expected to grow to 45 lakh by 2020.
In 2015, India’s second largest automobile manufacturer by sales expects its market share to touch 17 per cent....