Global Companies Launch Only Small Cars While Hyundai·Kia Diversify Lineup
Activation of Contactless Marketing Amid Prolonged COVID-19 Pandemic
[Asia Economy Reporter Ki-min Lee] Following GM's exit, Ford has also decided to withdraw from the Indian automobile market, while Hyundai Motor Company is aiming for the top spot with its locally tailored strategy.
According to industry sources on the 21st, Hyundai Motor and Kia sold a total of 63,616 units in the Indian domestic market last month, ranking second. Due to the semiconductor supply shortage, Hyundai's sales decreased by 2.4% compared to the previous month (48,042 units), but Kia's sales grew by 11.1% compared to the previous month.
This contrasts with Maruti Suzuki, the number one company in the Indian market, whose sales decreased by 22.5% during the same period. Earlier, Hyundai and Kia sold over 500,000 units in the Indian market last year, surpassing a market share of 20% for the first time.
Compared to other companies struggling with prolonged COVID-19 spread and semiconductor supply issues, Hyundai and Kia proactively secured parts to minimize production disruptions and attracted customer attention by launching locally customized vehicles.
Especially, even as Ford recently decided to close production facilities following GM's exit due to poor performance, Hyundai and Kia have differentiated themselves with India-specific models ranging from small to mid-sized vehicles and local sales systems, according to industry evaluations.
Hyundai and Kia have recently introduced lineups such as compact and mid-sized sport utility vehicles (SUVs) tailored to India's economic growth and vehicle demand.
Hyundai, which ranks first in small SUV sales in India with models like the Creta and Venue, recently launched the premium mid-sized SUV Alcazar, recording over 11,000 pre-orders within 30 days. Following the launch of the i20 N Line last month, Hyundai plans to steadily introduce high-performance N models. Kia, which sold over 100,000 units of the Seltos in less than a year since its launch, is also considering new Seltos models and multi-purpose vehicles (MPVs) in the future.
Hyundai and Kia are expanding contactless customer services in the Indian market, lowering barriers for customers during the COVID-19 era. Hyundai operates the online platform Click to Buy in India, where customers can select and purchase desired vehicle models. In July, Click to Buy recorded 1.5 million visitors and over 20,000 registered customers in India. Kia operates Digi Connect, a platform that allows customers to purchase cars 100% contactlessly by connecting directly with dealers via video.
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