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Hyundai Targets Record Sales in India
Hyundai Motor Co. says it expects its sales in India will rise 5% to a record 500,000 units in 2016, pacing overall growth of the country’s car market.
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Hyundai Motor Co. says it expects its sales in India will rise 5% to a record 500,000 units in 2016, pacing overall growth of the country’s car market.
The company predicts strong demand for its redesigned Elantra compact sedan and gasoline-powered versions of its Creta SUV will more than offset declining sales of diesel-powered models. Hyundai, which sold 80,000 Creta models last year, plans to ramp up local monthly output to 9,000 units from 7,000 units currently.
The revamped Elantra is being offered in nine variants, including diesel- and gasoline-powered models. Prices begin at about $19,400. Over the past two years about 70% of Elantras sold in India were diesels. The company predicts that ratio will drop to 45% because of the country’s restrictions on diesel sales in the New Delhi region.
Hyundai sold 284,600 vehicles in India during the first half of 2016, up 9% compared with the same period last year. The company controls about 17% of the India passenger car market, which is expected to reach 2.92 million units this year.
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