Hyundai Planning To Enter Indian Commercial Vehicles Market
Likely to introduce trucks initially, followed by buses; timeline and entry strategy not clear yet.
Rejoice guys, we are likely to see exciting commercial vehicles from Hyundai in the years to come, with all the bells and whistles we see in their passenger cars. As per a latest report from Autocar Professional, the Korean auto maker is known to have initiated exploratory activities to foray into India’s CV market. However, the timeline and route of entry is yet to be clarified, as the progress is still at a very nascent stage. It is speculated that the company is open to both organic (by means of direct investment and expansion) and inorganic (via local partnerships and acquisitions) entry strategy for India.
Timing can’t be any perfect, as the CV industry in India is booming after a really long lull for over a decade. The medium and heavy-duty truck segments have registered a sales growth of 15 percent during the April-October period this year. The buses have seen a 33 percent growth during the same period. India is in the top-priority league of markets in the Asian region, with high potentials for local production-cum-exports and domestic consumption.
Although limited to passenger cars in India, Hyundai Motor Company is well into commercial business for decades. With a global presence in over 130 markets, the Korean company sells around 100,000 CVs every year. Manufacturing is carried out in three countries – Korea, Turkey and China. It is likely that the medium and heavy-duty trucks are introduced in India initially, and later followed my more products including luxury buses.
Hyundai’s flag-ship Xcient heavy-duty truck and tippers with 10 – 12-litre ‘Hyundai Powertec’ engines are likely to be considered for India, to take on products from Volvo, Scania, and Daimler. The Universe and Aero range of inter-city buses may be added to the list later. A decade ago, Hyundai signed a pact with Caparo India to produce Hyundai Aero buses, powered by 320-380 hp engines, in Chennai-Andra region, but the plan was later shelved.
However it may unfold, it is unlikely to see Hyundai CVs on Indian roads before 2018.
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