rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Hyundai to launch 6 models in 3 years, spend Rs 200 crore on ads

Hyundai to launch 6 models in 3 years, spend Rs 200 crore on ads

February 08, 2011 15:15 IST
Hyundai SantroHyundai Motor India said on Tuesday it will launch at least six new models in the next three years as it looks to enhance its position in the domestic car market.

The company, which on Monday became an official partner for International Cricket Council, will also be spending Rs 200 crore (Rs 2 billion) in the next five years on advertising and promotions.

"Starting from this year, we are looking at launching two new models every year in the next three years," Hyundai Motor India Ltd director, marketing and sales, Arvind Saxena told reporters in New Delhi.

This year the company will launch two new models, he said without specifying details.

The company is the second biggest car maker by volume in India after Maruti Suzuki. Besides launching new models, Saxena said the company will be intensifying campaign and promotions, especially around the ICC World Cup, which is scheduled to be played in the sub-continent.

"In the next five years we will spend roughly Rs 200 crore (Rs 2 billion) on campaigns across the board, including the partnership with ICC," he said.

While HMIL will be the official partner for the mega cricketing event being held from February 19 to April 2, its parent Hyundai Motor Co has become the exclusive car partner for the global cricket body from 2011-2015.

Saxena said HMIL is looking to extract the maximum mileage out of the world cup to enhance brand image as well as push sales.

"While it is difficult to put a number as to how much sales we would achieve during the world cup, the event gives us an opportunity to cut across customer segments as cricket is universal in India," he said.

HMIL, which sold a total of 600,000 units in 2010 is targetting sales of 630,000 units this year, he added.

Commenting on its sports utility vehicle Santa Fe, he said the company has closed bookings for the vehicle and may re-open them by March-end or April beginning.

"We have bookings for 600 units and will be delivered by May," he added.

On the export front, Saxena said last year the company had clocked 247,000 units.

"With Europe, our biggest market, yet to recover we expect similar export numbers this year," he said, adding the company is not exploring new markets as it is already present in over 115 countries.

© Copyright 2014 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.