Hyundai eyes leadership position in compact SUV segment: MD
Posted on 18th April 2019 |
.jpg) |
Hyundai Motor India is eyeing a leadership position in the compact SUV segment in the country with its upcoming model Venue, a top company official said.
The company will face stiff competition in the sub-4 metre compact SUV segment from the likes of Maruti Suzuki Vitara Brezza, Tata Motors Nexon, Mahindra XUV300 and Honda WR-V.
These models are priced between Rs 6.48 lakh and Rs 11.99 lakh.
Currently, Vitara Brezza leads the pack with sales of between 13,000-14,000 units per month.
"We are looking at market leadership position in the compact SUV segment with Venue," Hyundai Motor India MD and CEO S S Kim told PTI.
The company wants to be the market leader, but at the same time also provide value to the customers, he added.
Kim said Venue has an edge over Vitara Brezza as it comes with both petrol and diesel powertrains.
Maruti currently sells only a diesel powered version of Vitara Brezza. Even with that, it has remained on the top of sales charts in the sub-compact SUV segment.
HMIL Senior General Manager Marketing Puneet Anand said Venue, along with Creta, would help the company take top position in the entire SUV segment.
"With Venue, we are looking at leadership in the overall SUV segment; and not only the compact SUV vertical," he said.
The compact SUV segment roughly witnesses sales of around 25,000-26,000 per month; and with Venue coming in, it is further going to expand, he added.
"The way we are seeing growth and the way we are witnessing aspirations of millennials, we are confident that it will further consolidate the market and the growth will be phenomenal," Anand said.
"We are looking at an SUV portfolio of around 19,000 to 20,000 (Creta and Venue) and and if we look at the competition then we could be the largest supplier of SUVs in the country," he added.
He further said, in the long term, the company is looking at a leadership position in the SUV segment, which is the most growing segment currently.
Venue, which will be launched in India on May 21, will come with 1 litre turbo and 1.2 litre petrol powertrains besides 1.4 litre diesel engine and sit below Creta in terms of price and positioning. |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
|
|
|
|
| Be the first person to write a business review for Hyundai eyes leadership position in compact SUV segment: MD |
|
|
|
