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In order to boost its sales in the market, Hyundai plans to introduce more than ten models in the market. The company has taken this step in order to increase its sales, as the number of competitors in the market has been growing steadily. In the past one year, the market share of the company dipped from 21 percent to 18.3 percent.

The main strategy behind these new launches is to gain and even increase its market share in future. The South Korean car maker wants to manufacture cars with “fluid” designs and enter into segments that it not yet explored. One of the main strategies of the company will adopt to increase its market share is to introduce new models and also give “facelifts” to its existing cars, and the company is “working towards it”, says the vice president of sales and marketing, Arvind Saxena.

The launch of a cost effective LPG variant of Eon is on the cards, owing to the rise in the petrol prices. The company expects that the new variant will definitely increase the sales of the newly launch car and give a stiff competition to Maruti Alto, one of the best cars in the segment.

The car maker also plans to introduce cars in the D-segment. This car will be priced above Verna and will compete with Honda Civic and Chevrolet Cruze. It will also upgrade its i10 and i20 in the years to come.

Hyundai’s plan to line up ten cars is quite small as compared to its competitor, Maruti Suzuki. The latter has plans on the anvil to introduce more than 15 launches by the end of 2015.  The other car makers will also introduce several new launches in the market. Renault- Nissan has lined up ten to fifteen cars and General Motors will launch about six to eight cars by the end of 2015.

In the past few years, the passenger cars in India have doubled owing to the strong economic growth and few cars in the segment. Indian economy is expected to continue growing at a rate of 12 to 14 percent, in the next five years. As the sales of the passenger vehicles have been slow, it has not deterred the car makers in the country. The increase in the price of the commodities, high rate of inflation, hike in the petrol prices and interest rates have created a dent in the demand of the cars in the market.

Experts believe that if the market is flooded with new arrivals, there will be a stiff competition in the market. “The basic genesis has to be that it has to offer value and it has to be differentiated from other products. Customers are bitten by the novelty factor. Anything which offers better value to the customers will be sold”, observes the executive director at marketing research firm TNS Automotive, Pradeep Saxena.

Hyundai will definitely make its presence felt in all the segments, with its Eon at the bottom and Santa Fe at the top segment. The car maker will also introduce compact diesel cars as the price difference between petrol and diesel are quite high.