Hyundai Motor India (HMIL) is betting big on rural sales, having set a domestic sales target of 5 lakh units a year. The company has turned its focus to rural India (tier-II to tier-IV cities) to reach the magic figure, said Rakesh Srivatsava, senior vice-president (sales & marketing), HMIL.
The company, which registered a growth of 8.3% in domestic sales in 2014 (vs industry’s 3.2%), hopes to post a decent double-digit growth in 2015, he said. “With our proposal to expand footprint further, coupled with a slew of new product launches in the next two years, including refurbished version of existing cars, we see rural India playing a pivotal role in achieving the 5 lakh domestic sales mark as early as possible.”
After unveiling the all-new Verna, a global sedan, here on Thursday, Srivatsava said: “We have substantially improved our sales in the rural markets. Compared to 17% two years ago, the rural markets contributed close to 20% in 2014’s total domestic sales of 4.11 lakh units, i.e., around 80,000 units. We are targeting 1.05 lakh units this year (2015).”