Technoglitch
Core Member
India’s biggest car exporter Hyundai Motor India Ltd said on Tuesday that it is expecting to sell half a million vehicles in 2016.
The company, which sold 4,75,000 cars in 2015, is expecting to grow sales by 6%, said Y. K. Koo, chief executive of Hyundai Motors India Ltd, on the sidelines of the launch of its Elantra sedan here.
Elantra feeds into Hyundai’s strategy of launching two cars every year to expand in India, where it currently has a 17% market share in passenger vehicle segment.
“If the sales volume are good, we can start manufacturing the car here in India,” said Koo.
The carmaker, which is a dominant player in compact segment, has struggled to make inroads in the premium sedan segment.
“The sedan segment has declined at the rate of 33% for last six months” said Rakesh Srivastava, senior vice-president of sales and marketing, adding that the company is expecting growth in the segment with the launch of Elantra.
Hyundai Motor India looks to sell half a million cars in 2016 - Livemint
