India’s leading auto conglomerate Hyundai India Limited on Wednesday said that skyrocketing prices of fuel in the country is increasing the demand for diesel models for the company. Hyundai plans to introduce a mass-market electric vehicle in India within three years for which an eco-system has to be built like charging infrastructure.
Director (sales and marketing) of Hyundai India Tarun Garg said diesel models are 30% more fuel-efficient than the petrol versions which is causing the rise in demand in favour of the former. Sharing details to reporters at Domjur in Howrah district, Tarun Garg said "Hyundai is concerned about the rise in fuel prices. But since diesel models are 30% more fuel-efficient than petrol versions, there is a hike in demand for the former". He said though 2021 faced the second wave of the pandemic, sales are now back to normal to pre-Covid levels. However, the company is wary of a possible third wave, the official said Garg said that demand for SUVs is going up and Hyundai's share of this category to overall sales is 47%.
According to him, Hyundai's market share last year was 17.4%, the highest ever in the company's existence in India for 25 years. "We are expecting a good growth this year also on the back of new launches", he added. In the last two years, the company introduced ten products in the country, he said.
India will become a hub for car manufacturing in the next 5 years: Nitin Gadkari
Delhi Govt to issue 35 pc of over 4,200 e-auto permits to women applicants
