Hyundai Motor India (HMI), the third important arm of Hyundai Motor Corporation globally, celebrated its 20th Foundation Day on May 6, 2016. The past two decades were notable for HMI as it has grown to a position to contribute nearly 13 percent to Hyundai’s global volumes. HMI is next to the US and China.
We have pledged to attain market leadership, make Hyundai the most loved and trusted brand, transform it to become the modern premium brand and to position HMI as a great place to work. These are the four pillars that the company will build on in the future. In order to achieve these objectives, we plan to reach out to more customers by launching at least two new products every year and expanding our footprint across the country.
Hyundai is known for value for money and high technology. Out of the four pillars, the most important one for us is attaining market leadership. It is not only based on volume but quality, customer satisfaction and innovative products. It may be easier to generate volumes.
We want Hyundai to become the modern premium brand. Therefore, we want to upgrade our brand image and brand power. India is a very important market for Hyundai and so we have plans to make it a modern and premium brand. We will be launching Tuscan, one notch above, for the customers of Creta. We plan to bring vehicles with hybrid engines and a few models with automated manual transmissions in the coming years. In 2019 we plan to bring sub-four meter SUV.
Safety And Comfort
We do not compromise on safety and we will meet the requirements of the market we are operating in. In many cases we do not wait for the regulations; instead we go one step ahead and offer technologies that can enhance safety of our customers. However, if we add more safety features then it will escalate cost. Therefore, we are working prudently to introduce safety features that are quintessential for the customers in the present scenario.
India is very strong in information technology. Leveraging this capability we would like to develop more features in infotaintment. Hyundai Motor Corporation has recently established a partnership with Cisco, the IT and networking equipment company, to help develop the next generation of Internet-connected car services, which relies on lots of data shared at high speeds.
The partnership will focus on a network that will speed up and improve the transfer of large amounts of data within the vehicle. We will pursue our initiatives in infotaintment systems and connectivity also – initially between car to mobile followed by car to car and finally car to infrastructure.
These initiatives will help us achieve our objective of transforming Hyundai to be a modern, premium brand in India. Hyundai is a mass brand now, and as we are transforming it into a modern premium brand, we need to upgrade our brand image through dealer network and upgrade our products themselves.
For us every model is important – right from Eon to the Elantra and more. Now our average price tag is Rs 7 lakh, which was about Rs 4 lakh. The brand image has already jumped 60 percent. In the next five years this average price tag will increase substantially, and by 2020 we will be able to launch Genesis in the Indian market. Genesis is a premium brand from Hyundai. HMI, our vendors, and our dealers will work together to carry out this goal.
We are launching Grand i10 and Xcent as special editions with upgraded features to mark the 20th Foundation Day celebrations.