India's second-largest automaker unveiled a compact sedan as it looks to gain market share in the segment.
Hyundai Motor India Ltd.'s Aura, with a starting price of Rs 5.8 lakh, would compete with Maruti Suzuki India Ltd.'s Dzire and Honda Cars India's Amaze, according to Tarun Garg, director for sales, marketing and services at the company. “HMI was only present with Xcent in this category, which with limited success had a market share of just about 5 percent. We want to increase that to 17.3 percent.”
Hyundai's optimism on the segment stems from the fact that the Indian automobile industry sold as many 3.38 lakh compact sedans in 2019.
The company ended 2019 with 17.3 percent market share in the passenger vehicle segment—a 100-basis-point increase over the previous year. It expects to cross the 20 percent mark with the launch of Aura.
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