Hyundai’s Kwid Rival In The Pipeline; Launch Expected In 2020

Hyundai Kona Teaser Image

Hyundai aims to strengthen its grip in India with new A-segment small car; targeting 6 percent growth in 2018

Hyundai is aiming to grab greater share in the small car market of India. To achieve the goal, the South Korean auto major is preparing to launch a new A-segment model that will lock horns with rival like Renault Kwid upon arrival and we can assume this car to be rolled out in 2020. As the hatchbacks with SUV stance are doing pretty well in the country market, Hyundai wants bring its own version in this space.

This new entry level car is codenamed as AH2 and it will also challenge Maruti Suzuki Alto that has been one of the bestselling and most popular models of all time in the country. While this will arrive by the end of this decade, Hyundai also aims to roll out some more products ahead of that. These include the Kona SUV, refreshed Creta that will arrive this year and a new compact SUV will come next year, codenamed as QXi.

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Also read: Upcoming Hyundai Cars in India in 2018

In 2017, India’s second biggest car manufacturer has done pretty well in terms of sales volume. The brand retailed around 5.2 lakh units in last year that crossed its own target for 2017. This success was largely attributed to the strong demand for the new Hyundai Verna midsize sedan that came with an attractive design and loads of features including some class leading ones as well.

Apart from the new Verna, Hyundai also introduced couple of facelift models in 2017. Speaking about 2018, the auto major is aiming to post around 6% growth and launching some new cars in the home market is a vital part of that strategy. Alongside that, it will also focus on expanding its business network here and increasing sales volume as well.

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Also read: Upcoming Hyundai Creta Facelift India Launch In February

For 2018, Hyundai has already set a 7 lakh unit sales target, among which 5.5 lakh units will be retailed in domestic market only. As the brand says it will focus on increasing export number for the Creta, Verna and other models. India is presently one of the fastest growing markets for Hyundai and what’s more interesting, for the auto brand it appears larger market than Europe.

Hyundai has promised to invest more than $2 billion in the Indian market by 2022. Alongside the conventional fuel powered models, the Korean brand is also aiming to enter the EV market of the country that is expected to grow significantly. Apart from that, Hyundai will also focus on commercial vehicle space as well.
Source: ET Auto