True Localization
Hyundai Motors has become a leading car brand in India.
According to industry sources on May 10. The company produced a total of 6.54 million vehicles, including domestic demand and exports, as of March this year for 20 years since its advance into the Indian market in 1996. It ranked first in terms of export with 2.36 million units and second in terms of production with 4.18 million units. In particular, Hyundai Motor shipped overseas about 40 percent of the total production in its Indian plants, becoming a leading car exporter in the nation. Accordingly, the company’s influence in the Indian car market is growing.
Hyundai Motors’ compact SUV Creta and Santro hatchback led the company to success in the Indian market.
The Creta, which started sales in the local market last July, was sold 6,783 units in the first month alone, taking first place in the Indian SUV market until this year. The Santro, the first-generation strategic model discontinued in January last year, was sold 1.32 million units in India alone for 17 years since its release in 1998.
Hyundai Motor opened its local corporate body in India in 1996 and started mass production of the Santro at its first plant in Chennai, the capital city of Tamil Nadu Province, in September 1998. The company currently produces a total of six models, including the Eon, i20, i20 Active, Elantra, Santa Fe and Creta at the first plant and a total of four models, such as the i10, Grand i10, Verna and Accent, at the second plant.
Hyundai Motor climbed to second place in terms of local sales in India in 1999, when it sold 6,321 cars with an 11.6 percent market share. After that, it broke the 100,000 unit mark for the first time in 2002 with sales of 102,800 units. Its annual sales there have been on the steady rise from 200,412 units in 2007 to 356,718 units in 2010 and 411,471 units in 2014. Hyundai Motors sold 476,000 units last year, surpassing the total sales of 470,130 units in Europe for the first time.