“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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