<p>South Korean car giant Hyundai has expressed its intention to further tap the sports utility vehicle (SUV) space, with plans to launch the new Tuscon in India by either October or November this year.<br /><br /></p>.<p>Talking to Deccan Herald on the sidelines of an event here on Thursday, Hyundai Motor India Managing Director and Chief Executive Officer Y K Koo said, “While the mid and executive segment growth has slowed, the SUV segment has been doing well.”<br /><br />The mid-segment and executive segment growth fell by 25-35% across the industry, while the SUV market has taken off, especially thanks to the compact SUV boom. <br /><br />Hyundai’s compact SUV sensation Creta has been a force to reckon with in the Indian car market, eversince it hit the roads a year ago.<br /><br />“The Creta is a strong competitor in the market, especially in the booming compact SUV segment. Considering that it is contributing significantly to our business, it’s time to shift some of our focus from the mid and executive segments to the SUV segment,” Koo said.<br />Accordingly, the company is also launching a special edition Creta, commemorating the car’s one-year anniversary, with production commencing from July 15, followed by deliveries in August.<br /><br />In terms of the Tuscon, Hyundai is expected to position it between the Creta and the premium Santa Fe. “The Tuscon will be launched in October or November,” Koo said, without divulging further details.<br /><br />Meanwhile, in the last six months, Hyundai Motor India managed to grow at 9%, better that the industry’s growth at 4.4%. The company has also increased its market share to 17.3%. “We have sold a good number of our other models too. Last month, we sold 13,000 units of the Grand i10, while the Verna saw sales of 2,000 units,” he said.<br /><br />The company has hinted at considering bringing the Genesis to India sometime in the future. <br /><br />“Our premium brand Genesis has been successful in the US and Korean markets. It is too early to talk about its foray into India, even as we want to push our existing portfolio including Elantra and Santa Fe. The market must mature further, following which we may need to conduct a feasibility study. We will consider Genesis’ entry into India later, and not now,” Koo concluded.<br /><br /></p>
<p>South Korean car giant Hyundai has expressed its intention to further tap the sports utility vehicle (SUV) space, with plans to launch the new Tuscon in India by either October or November this year.<br /><br /></p>.<p>Talking to Deccan Herald on the sidelines of an event here on Thursday, Hyundai Motor India Managing Director and Chief Executive Officer Y K Koo said, “While the mid and executive segment growth has slowed, the SUV segment has been doing well.”<br /><br />The mid-segment and executive segment growth fell by 25-35% across the industry, while the SUV market has taken off, especially thanks to the compact SUV boom. <br /><br />Hyundai’s compact SUV sensation Creta has been a force to reckon with in the Indian car market, eversince it hit the roads a year ago.<br /><br />“The Creta is a strong competitor in the market, especially in the booming compact SUV segment. Considering that it is contributing significantly to our business, it’s time to shift some of our focus from the mid and executive segments to the SUV segment,” Koo said.<br />Accordingly, the company is also launching a special edition Creta, commemorating the car’s one-year anniversary, with production commencing from July 15, followed by deliveries in August.<br /><br />In terms of the Tuscon, Hyundai is expected to position it between the Creta and the premium Santa Fe. “The Tuscon will be launched in October or November,” Koo said, without divulging further details.<br /><br />Meanwhile, in the last six months, Hyundai Motor India managed to grow at 9%, better that the industry’s growth at 4.4%. The company has also increased its market share to 17.3%. “We have sold a good number of our other models too. Last month, we sold 13,000 units of the Grand i10, while the Verna saw sales of 2,000 units,” he said.<br /><br />The company has hinted at considering bringing the Genesis to India sometime in the future. <br /><br />“Our premium brand Genesis has been successful in the US and Korean markets. It is too early to talk about its foray into India, even as we want to push our existing portfolio including Elantra and Santa Fe. The market must mature further, following which we may need to conduct a feasibility study. We will consider Genesis’ entry into India later, and not now,” Koo concluded.<br /><br /></p>
