Hyundai Motor Accelerates India Market Penetration with 'Online Showcase'

India's Industry First Online Event... 'New Tucson' Facelift Debut
Recovering from COVID-19 Impact... Aiming for Rebound with New Model Launches in Overseas Markets

[Asia Economy Reporter Kiho Sung] Hyundai Motor Company has begun to fully resume overseas marketing activities that had been curtailed due to the COVID-19 pandemic. The signal fire will be fired in India, the largest emerging market, where Hyundai plans to launch the facelift model of the sport utility vehicle (SUV) 'New Tucson' through a large-scale online showcase.

According to Hyundai Motor India and foreign media on the 13th, Hyundai will hold an online showcase titled 'The Next Dimension' at 12 PM local time on the 14th in India. This showcase is the first online event attempted in the Indian automotive industry and will be extensively conducted through various channels such as YouTube, Twitter, Instagram, Facebook, and Hyundai Motor India’s official website.

The vehicles introduced this time include three models: the new Tucson, the 'All New Creta,' and the 'New Verna,' which were launched earlier this year. The new Tucson is a model that meets India's strengthened emission regulations known as 'BS6' and was originally scheduled to be launched last month. However, due to the impact of COVID-19, the Indian automotive market suffered a significant blow, delaying the launch schedule. It is equipped with two engine options: a 2.0ℓ gasoline engine and a turbo diesel engine, and offers a choice between a 6-speed manual transmission and an 8-speed automatic transmission. Detailed specifications will be revealed through the online showcase. Locally, the new Tucson is expected to compete with models such as Skoda's Karoq, Jeep's Compass, and Volkswagen's T-Roc.

India is Hyundai’s largest global production base and a foothold for pioneering emerging markets. According to the Korea Automobile Manufacturers Association, last year, production at Hyundai’s Chennai plants 1 and 2 reached 682,100 units. During the same period, the China plant produced 663,491 units. While production in China slowed due to the fallout from the Terminal High Altitude Area Defense (THAAD) conflict, India became Hyundai’s largest production base in 10 years. India’s domestic car market ranks fifth globally, following China, the United States, Japan, and the United Kingdom. Hyundai’s focus on resuming overseas marketing, which had been on hold due to COVID-19, in India is based on these factors.

Fortunately, Hyundai has shown strong performance in India despite the direct impact of COVID-19. Last month, Hyundai sold a total of 21,320 vehicles in the Indian domestic market. This represents a 49% decrease compared to the same period last year (42,007 units). However, compared to May’s 6,833 units, it increased by 209%. Considering that sales were zero in April, this indicates a 'V-shaped' recovery. The recovery pace is faster compared to competitors. Maruti Suzuki, the market leader in India, sold 52,300 units last month, but this was a 54% decrease year-on-year. Toyota recorded 3,866 units, and Honda 1,398 units in the same month, showing decreases of 66% and 86% respectively compared to the previous year.

Kim Sun-seop, CEO of Hyundai Motor India, stated, "Hyundai’s core is innovation, and we are doing our best to provide a unique experience through the most advanced technology and future-oriented efforts. Through this showcase, we are confident that we will lead digitalization and the virtual experience world in the Indian automotive industry and set a new benchmark."

Hyundai is aiming for a final rebound in overseas markets, where sales have decreased by about 20% in the first half of this year, through new car launches. The Genesis brand will launch the GV80 and the new G80 in the second half of this year in the United States, Canada, and Middle Eastern markets. In the fourth quarter, a completely redesigned Elantra model will also be introduced in the North American market. In the Chinese market, Hyundai plans to boost demand by launching the new Elantra, Mistra, and a facelifted version of the compact SUV i35.