Friday, September 09, 2011
By Pranjal Gera
Hyundai's new strategies for Indian market
Hyundai Motors has decided to shift their focus from domestic market to exports. The India's second largest automobile company has made this decision beacause of the falling demands in the local market.
The sales have gone down as compared to the last year. The rising prices of fuel and raw material, as well as high interest rates, have affected the market badly. Not just Hyundai Motor India Limited, but all the automobile companies are struggling with the sales numbers, in the country.
Last year the sales of Hyundai were 28,601 in the month of August. But this year the number has dropped to 26,677. The total sales for the company in the Indian market for the year 2010 were 3,56,717 units. Whereas, in the export market they sold 2,47,102 units. Though, The demand in the Indian market is decreasing. Whereas, in the foreign market it is increasing.
Arvind Saxena, Direcor of Marketing and Sales department for Hyundai Motor India Limited, said that they made this decision to continue the momentum of sales of their cars. He added that they won't be entering into any new markets. They will just increase the volume in the markets where they are already selling their cars.
Currently, Hyundai Motor Company is exporting its products to Africa, Europe, Middle East and Asia Pacific. Mr. Saxena also said that the sales figures in the domestic market are not good, when compared to the number of enquiries they get.