Hyundai Motor is considering diversifying its localized model lineup in a bid to secure its position in the fast growing BRIC market, company officials said.
Over the past several years, the company has prioritized expanding the production capacity of its assembly lines in China, Russia and India.
Along with the completion of its Brazilian factory this year, Hyundai Motor plans to more profoundly reflect locals’ design tastes and customer needs in the four countries.
The company is reportedly considering introducing localized versions of its sport utility vehicles in Russia in consideration of the country’s weather conditions, which include heavy snowfall.
The latest data shows that Hyundai’s strong market presence in Russia has been fueled by the popularity of the Solaris sub-compact made at the carmaker’s St. Petersburg plant.
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Solaris in Russia |
The car is a localized version of the Accent small four-door sedan that has been produced in Russia since the first quarter of 2011.
“Our fresh target will be Russia’s SUV market. I expect the main model will be a remodeled version of the Tucson ix,” a company spokesman said.
He added that a large number of Korea’s auto parts producers expressed willingness to advance into the Russian market, fueled by financial support from the state-run Export-Import Bank of Korea.
Aside from increasing its market share, Hyundai created about 1,000 jobs in St. Petersburg as of 2012 together with 11 parts suppliers from Korea.
“In a bid to attain continuous success in sales of the localized vehicles, it is crucial for us to contribute to the advancement of Russia’s automotive industry and the regional economy,” the spokesman said.
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Santro in India |
In India, Hyundai Motor saw the Eon gain popularity, becoming one of the five best-selling cars in the emerging market.
The Eon, a hatchback city car, is in competition with Maruti Suzuki’s four models ― the Alto, Swift, Dzire and Wagon R.
The sporty-looking hatchback equipped with a five-speed manual transmission can generate 56 horsepower and 7.66 kilogram-meters of torque.
The Indian factory is also rolling out the Santro (a localized model of the Atoz), i10, i20 and other compact cars that are being exported to 110 countries in Africa, Europe and South America.
Hyundai Motor India has recorded a year-on-year sales increase for the 12th consecutive year aided by the subcompact i10, which took the title of India’s bestselling model in 2009 and 2010.
Hyundai Motor is the second-biggest carmaker in India, with nearly 20 percent market share. More than 70 percent of vehicles sold in the country are compact cars.
In China, the carmaker has outlined a a strategy to release a sedan whose size is extended from the original model in Korea, in reflection of Chinese drivers’ preference for bigger vehicles.
Hyundai Motor ― along with its affiliate Kia Motors ― is speeding up its mid-term project to overtake General Motors in vehicle sales in China by expanding its manufacturing capacity.
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Elantra Yuedong in China |
Beijing Hyundai has been producing six models: the Sonata, Avante (Elantra), Tucson, Sonata NFC, Accent and Elantra Yuedong.
Though Volkswagen Group maintains the No. 1 position in the Chinese market, the sales gap between GM and Hyundai-Kia has narrowed.
In Brazil, Hyundai has released a new model dubbed the HB20 ― which stands for Hyundai Brazil ― with which it will enter the biggest and most competitive segment in the country’s car market.
The HB20 was not only designed for Brazil but will also be the first model to be produced at Hyundai’s fully-owned new plant in the Piracicaba region.
“Unlike our other models currently offered in Brazil, HB20 is the first model strategically developed and produced exclusively for the Brazilian market,” a spokesman said.
The five-door hatchback is related to the European market i20 featuring a revised exterior styling and a different interior. The carmaker has adapted the HB20 to the needs of buyers in Brazil.
He said the new model was optimized to the taste of Brazilian consumers and the driving conditions in Brazil, with years of dedication from the carmaker’s engineers.
By Kim Yon-se (
kys@heraldcorp.com)
