Hyundai could launch its premium Universe buses and Xcient trucks in India in near future
South Korean auto major Hyundai is focusing on the commercial vehicle segment in Indian auto market. As it appears, Hyundai is aiming to roll out its premium range of buses and trucks in the domestic market in near future. And before that, the brand is currently conducting a feasibility study to evaluate the prospects of its CVs.
Hyundai has already contacted its existing passenger car dealerships across the country to learn about their interest in selling commercial vehicles. However, the brand has indicated that its commercial vehicle segment would be operating independently and the PV division won’t be directly involved there. It is nothing new that Hyundai is aiming to grab a sizeable share in the CV segment of the country market.
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In fact, India is one of the top markets where Hyundai wants to roll out its commercial vehicles. Currently, Tata Motors and Ashok Leyland rule the heavy commercial vehicle segment of the country and Mahindra dominates the light commercial vehicle space. Apart from that, Volvo, Mercedes, MAN, Scania are the other brands present in the premium commercial vehicle space.
With Hyundai aiming to launch its premium range of buses and trucks here, the premium CV segment will see increased competition. The brand is expected to roll out its Universe range of premium buses and Xcient series of premium trucks in the country. Currently Hyundai sells more than 3 lakh units of commercial vehicles across the world every year, comprising both HCVs and LCVs.
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Hyundai has commercial vehicle manufacturing facilities in South Korea and China. Apart from these two countries, Hyundai exports its CVs to several global markets. With India being the next in the list, we may see Hyundai setting up a local plant for these vehicles that will enable the automaker to sell its commercial vehicles with competitive pricing. However, the timeframe of the launch of Hyundai CVs are yet to be confirmed.
Source: BS