Hyundai India has been growing steadily since its inception in 1997 but the progress during the past few years had been faster than before. The extremely impressive success enjoyed by the Creta further boosted the South Korean automaker’s confidence in the market.
The Hindu BusinessLine reports that Hyundai India is gearing up to launch at least one new or refurbished product every year till 2020. The company has reportedly earmarked an investment of INR 1,000 cr for every new product.
We expect to receive a strong hint about the company’s short and medium term plans for India at the upcoming Auto Expo 2016. With every new product and facelift, Hyundai is clearly move up the market so expect most of the products in the pipeline to be positioned as premium offerings in their respective segments.
The automaker is currently working on a compact crossover MPV which is expected to be ready by end-2016 or early-2017. The people carrier was previewed by the HND-7 (HexaSpace) concept at the 2012 Auto Expo. A sub-4 metre mini SUV borrowing several components from the Creta is also reported to be on the anvil.
Hyundai is also believed to be studying the Indian market to introduce its newly spun off Genesis luxury sub-brand. The Genesis G90 (EQ900) flagship luxury sedan has already been unveiled for the international market.[“source-rushlane”]