Hyundai India planning to explore luxury vehicle segment
Hyundai, after tasting immense success with Grand i10, is now planning to indulge itself in the plush and upscale market of luxury vehicles in India. Hyundai is thinking to launch its premium luxury vehicles the Equus, Genesis and Veloster in the Indian subcontinent. Furthermore, reports suggest that the Korean automaker could also set a separate sales network for these luxury vehicles.
Hyundai's planning to evade the luxury vehicle segment gets much stronger, because of the thundering response that its other luxury vehicles such as Sonata and Elantra have received from the Indian audiences. Moreover, the facelifted 2014 Santa Fe is also getting decent anticipation from people out here. Although, as known, currently the luxury vehicle segment in the Indian automotive industry is being dominated by 'The Big Three' i.e. Mercedes-Benz, BMW, Audi, all being Germans. So, it won't be an easy outing for the country's second largest automaker in the luxury segment, but right now nothing can be predicted.
The other reason behind the introduction of luxury vehicles in India by Hyundai is that this segment is gaining much fame and significance day by day. It is being assumed that luxury vehicle segment will grow by 20 percent this fiscal year, which compounds for the increase in units of vehicle from 29,000 to 35,000 per year.
Source: FE