(Source: ECI/ABP News)
Why Hyundai's Latest Salvo Is Needed To Battle Tata And Mahindra
For Hyundai, its latest ambitious plans to launch several key models and enter new segments is needed to protect its turf with Tata and Mahindra emerging as strong rivals.
- Indian car buyers now prefer sub-4m SUVs over hatchbacks.
- Hyundai plans new models and segments to rival Tata, Mahindra.
- Tata and Mahindra's SUV focus challenges Hyundai's market position.
The Indian car market has changed and things haven't stayed the same which shows the nature of the new Indian car buyer. It could be said that unlike many years ago, a new Indian car buyer could today look at an SUV as his/her first car and not a hatchback. The Maruti 800 or Alto has been the first car for many but for new India, the same new car is a sub 4m SUV.
The changing customer preferences show that value matters and not just being affordable. For Hyundai, its latest ambitious plans to launch several key models and enter new segments is needed to protect its turf with Tata and Mahindra emerging as strong rivals.
The big change over the past few years has been how Tata and Mahindra have grown from strength to strengths with new models targeting the SUV space. Hyundai till now has had SUVs but now the focus is bigger with hybrid SUVs and a locally made EV SUV too in the pipeline.
In-order to compete with Tata and Mahindra, Hyundai had to have more locally built products to suit our tastes along with more localization. Making an off-roader is an example. It is clear that new SUVs will bring in the sales like the current Creta but Hyundai is now eager to develop more than relying on the Creta and Venue. Local competition has increased over the years and Hyundai's plans are right on time to counter that. We will see the new Venue on sale soon and a possible hybrid SUV in the works as well. Hence, the battle ground that is the Indian automotive market will only mean more choices for the Indian car buyer.
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