Demand strong, only a halt to output to have impact: Hyundai India

Korean automaker Hyundai Motor expects gross sales momentum within the Indian market to proceed regardless of the brand new wave of Covid-19 and the partial lockdowns imposed in components of the nation. Pent-up demand and robust shopper desire for private mobility amid the pandemic will proceed to assist gross sales of passenger automobiles, Hyundai Motor India managing director SS Kim mentioned. Only if there may be a disruption in manufacturing on account of such restrictions there could be an opposed influence, with the trade sitting on a backlog of a number of months of bookings due to excessive demand.

“Demand will be there. For how long, we are trying to check. But indications are good, positive,” Kim mentioned.

The market potential is excessive in India due to decrease automobile penetration in contrast with different mature markets, he mentioned. “That is why a lot of global OEMs (automakers) are trying to enter even today, with new vehicles, new technology.”

The firm is “quite positive” of future progress within the Indian market, he mentioned, including: “We are trying to bring in new vehicles, technology, new customer experience in the ecosystem.”

Kim was talking on the sidelines of the worldwide unveiling of the Alcazar SUV, which the corporate will launch shortly to consolidate its management place within the fast-growing section in India.

Alcazar will are available with six- and seven-seat configurations and Hyundai mentioned it’s making an attempt to create a new section for such multi-seater SUVs.

Mahindra XUV500, Tata Safari and the MG Hector Plus at the moment have seven-seat choices within the class. “So many customers today want the premium experience, want a car which is versatile, has more space, is flexible. We believe it is the right time (to launch the Alcazar),” mentioned Kim.

Hyundai sells the Venue, Creta, Tucson and the electrical Kona within the SUV segment in India.

The firm mentioned the brand new launch will herald incremental volumes in a yr when it’s working at recouping volumes misplaced prior to now two years on account of the financial slowdown and the pandemic.

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