Hyundai Motors has stopped the sale of Accent sedan in the Indian market, but plans to replace it with an entry-level sedan, apart from launching a new hatchback later this year.
Hyundai Motor India Vice-President for Marketing and Sales Rakesh Srivastava told Business Line that Accent had been phased out of the Indian market because the auto major wanted to launch a newer, advanced entry-level sedan, which is one of the fastest-growing segments in the country.
Till the production of Accent for the domestic sector was stopped, it had posted a cumulative sale of 3.8 lakh cars. It was one of the first models to offer the CRDi diesel engine in the mid-sized segment. Accent will, however, continue to be produced for the export market. Hyundai is currently the largest exporter of passenger cars from India.
The South Korean car maker also plans to have a clear product differentiation in each of the segments it is in India. This year, it will launch a new model code-named BA, a premium hatchback positioned between i10 and i20 to cater to a wider base of customers. Hyundai has also refurbished the i10 and i20 models, apart from repositioning Eon as a more modern car in its segment.
Srivastava said globally, Hyundai is consolidating the production capacities as more and more plants are being opened in different countries. Therefore, there will be some shift in production patterns across countries as the aim is to service the domestic demand of the region where the plants are located as well as produce products for the neighbouring markets to ensure quicker response time to market, Hyundai’s head for marketing and sales said.
He pointed out that exports gives the company strong quality benchmarks, creates higher acceptance of products worldwide and ensures full utilisation of its production capacity.
Increase capacity
The car manufacturer currently produces 6.3 lakh units every year and with some minor changes in the production schedule, the capacity can be increased to another 40,000 car units. Last year (calendar year), Hyundai sold 391,276 cars in the domestic market and exported 250,005 cars.
giriprakash.k@thehindu.co.in