After Hyundai successfully released its hatchback Elite i20 in India recently, it is looking to expand into the compact SUV market segment this year.
Hyundai has had great success in India recently. In the first half of this year, Hyundai controlled a market share of 21.6 percent. While that is an impressive figure, Hyundai is now looking into segments where they are not currently present.
Rakesh Srivastava, Vice President of Sales and Marketing for Hyundai Motor India Ltd said, “The compact SUV and MPV segments are growing in India and these are of interest to us.”
As a result of this desire to branch out, it is expected that the Hyundai compact SUV will be released within the next year.
Srivastava also said Hyundai India is “well poised to maximize opportunities in the season.”
As Hyundai grows internationally, we at SouthTowne Hyundai are excited to see where the company goes in the future.