Hyundai eyes CV market entry
After proving its mettle in the Indian passenger car market, the South Korean auto major, Hyundai Motors is now planning to make its presence felt in the CV segment as well.
Hyundai, which is the second largest passenger car maker and the largest exporter of passenger cars in the Indian market will now soon by joined by the CV arm of the Group.
While it has been learned from the sources that the company will make its India entry by 2012, the Indian subsidiary has said that as it is handles by a totally different company, Hyundai is not involved in any way with the development. However, a source in the global marketing team of Hyundai Motor Company has said that the company is gathering information about the Indian market at this moment.
Clearly, the Indian CV market has a lot of potential to grow and the fact of the matter is that the high tonnage categories are still unexplored and hence, it leaves a lot of scope for Hyundai that can be capitalized upon. For the uninitiated, Hyundai has a CV presence in markets like China and Bangladesh.