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Hyundai Sees Global Resurgence

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With Hyundai’s recent, and successful, resurgence here in the U.S., it is no surprise that India’s second largest automaker, Hyundai India is predicting a 20 percent increase in domestic sales. Hyundai has began to reap the benefits of its turnaround with better reliability and a new emphasis on styling. Even with export sales down due to the end of the “cash-for-clunkers” program in Europe, Hyundai India is still optimistic about future sales.  

Rajiv Mitra, a company spokesman, said: “We expect domestic sales to total around 350,000 units this year, up from 290,000 last year.”  As India’s economy grew by 8.6 percent in the last quarter alone, thanks to the rising affluent middle class, many more consumers are heading to showrooms.

Just as Hyundai is set to release a slew of new vehicles here in the U.S., like the Sonata 2.0T and Equus, their new luxury model, Hyundai India is releasing their own new cars to compete in the growing small car segment domestically. The 20 percent increase in domestic sales is exceeding the overall market growth. Hyundai India is also introducing an ultra-cheap small car in 2012, hoping to grab a larger piece of growing car market in the years to come.  

[Best Car Buying Advice, AFP]

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