Hyundai Aims to Regain No. 2 Market Share in India with Over 24 New Car Launches and Production Boost

Hyundai India has announced ambitious plans to introduce over two dozen new car models in the Indian market over the next few years. The company is aggressively pursuing its goal to reclaim the second position in domestic sales, currently facing strong competition from Mahindra & Mahindra and Tata Motors.

To support these new launches and sales targets, Hyundai is significantly increasing its production capacity. It is ramping up to nearly one million cars annually, bolstered by manufacturing operations at its newly acquired plant in Talegaon, Maharashtra, which was formerly owned by General Motors. This move positions Hyundai just behind Maruti Suzuki in terms of production capacity in India.

Tarun Garg, the outgoing COO and future CEO and MD of Hyundai India, expressed confidence in the company's outlook and growth potential, reiterating their passion for the number two spot. He highlighted that Hyundai focuses on quality and technology rather than engaging in price or discount wars. The company has committed a substantial investment of ₹45,000 crore by the end of the fiscal year 2030.

SUVs are expected to remain a central theme for Hyundai's new vehicle introductions. The company is also prioritizing electric vehicles (EVs) and hybrid models as part of its expanding portfolio.

Impact: This aggressive expansion strategy and investment by Hyundai are likely to intensify competition in the Indian automotive market. It could lead to a wider variety of vehicle choices for consumers, potentially driving innovation and better pricing. For investors, it signals a strong commitment from Hyundai to the Indian market, suggesting potential growth opportunities but also increased competitive pressure on rivals. Impact Rating: 7/10

Difficult Terms: No. 2 position: Refers to being the second-largest manufacturer or seller in the Indian automotive market by volume. Production capacity: The maximum output a manufacturing plant can produce in a given period, usually per year. Electrics and hybrids: Electric Vehicles (EVs) run solely on battery power, while hybrid vehicles combine a conventional internal combustion engine with an electric motor. SUVs: Sport Utility Vehicles, a type of vehicle that combines roadability with off-road features. Domestic market: Refers to sales and operations within India. Fiscal year (FY): A 12-month period for accounting and financial reporting, which may not coincide with the calendar year. COO: Chief Operating Officer, a senior executive responsible for day-to-day operations. CEO and MD: Chief Executive Officer and Managing Director, the highest-ranking executive responsible for overall management.