Hyundai to launch 3 new cars every year

Hyundai, the leading carmaker has stated that it will launch 2-3 brand new cars each year to catch up with the speedily growing small car market. The company will also do so with the purpose of maintaining its market share. Hyundai Motor India, Managing Director and Chief Executive Officer, Han-Woo Park stated that they would carry on introducing 2 to 3 new cars every year. He further added that the domestic market demand is rising and the company wants to encash it.

In the domestic market, Hyundai claims for around 20.6 per cent market share. The company hopes to retain and maintain its double-digit figure in the coming time too. Park said that they will continue to maintain their market share by launching new cars in the coming days. He also made an announcement that the company will be introducing its sports utility vehicle (SUV) Hyundai Santa Fe next month. He further stated that Hyundai is also developing a new small car in Korea. However he did not tell about any time frame for the same.

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Hyundai has been making plans since a long time to launch a model which may act as a perfect rival to Maruti Alto, the highly successful model from Maruti's stable and the largest selling car in the country. Hyundai's proposed small car will be positioned below Santro, the existing flagship model. As per the data of SIAM, the domestic car sales rose 33.24 per cent to 1,60,794 units in August in comparison to 1,20,681 units in the same month previous year. Presently, Hyundai has got 2 manufacturing facilities at Sriperumbudur which manufactures the Santro, i10, i20, Getz in the entry to mid-segment and also the Verna, Accent and Sonata in the sedan segment.

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