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Hyundai aims to launch five models in 2016

Hyundai Motors plans to introduce about five models in India this year, as it aims to expand its share in the Indian automobile market.

Y.K. Koo, managing director, Hyundai Motors India Ltd, told a newspaper that 2016 is an important year for the South Korean company as it marks the 20th anniversary of its foray into India.

The country’s second-largest car maker plans to shortly introduce special editions of its compact cars, the Xcent and the Grand i10 in April and May respectively.

The Korean auto giant will also launch the new version of its Elantra in August and its premium compact SUV Tucson around the festive season. Hyundai aims to focus on the SUV segment.

It will also increase the production capacity of the Creta from June, which would help slash the waiting period from four months to two.

Referring to the mid-size sedan, Verna, Koo said bookings had grown by almost 30 per cent and the company aims to double volumes to 3,000 units a month to meet the growing demand.

Hyundai hopes to sell 6.65 lakh units in 2016 (as against 6.43 lakh units last year), of 5 lakh would be domestic sales and the rest exports.