Hyundai Motor seeks to move ‘upmarket’ in India

By Korea Herald
  • Published : Jan 17, 2014 - 20:36
  • Updated : Jan 17, 2014 - 20:36
Hyundai Motor Co., South Korea’s largest carmaker, said Friday that it seeks to move “upmarket” in India this year, while expanding sales of its popular mini-sized city cars.

The carmaker is already the second-largest automotive nameplate on the subcontinent with its market share topping a little over 15 percent with around 380,000 vehicles sold in 2013.

The Indian car industry as a whole is dominated by Maruti Suzuki, a subsidiary of Japan’s Suzuki Motor Corp. that held a 43 percent market share last year.

“Hyundai does well in the small city car sector with the Grand i10 selling more than 30,000 units since it went on sale late last year, but the goal is to move into larger segments such as compacts and subcompacts,” a corporate source said. The Grand i10 was named the 2014 Indian Car of the Year last month. (Yonhap News)