Hyundai sharpens focus on rural markets
Korean auto major Hyundai has sharpened its rural focus and aims to get more than one-fourth of its sales from buyers in villages and small towns this year. The car maker in the country got about 23 percent of sales from rural markets in 2016 calendar year.
“The focus will be on rural for future growth. We have set up a new department to focus on rural market. We will create a different strategy on the products that are well suited for these markets. Every regional office and most dealership now have a rural team. The matrix has been completed,” a senior official at Hyundai said.
Increasing rural focus has helped the company to grow the contribution from rural markets from 14 percent in 2011 to 23.5 percent in 2016. This translates into more than 117,000 vehicles in a year. Hyundai believes there is a lot of potentials to grow the rural share further. Market leader Maruti Suzuki gets one-third of its sales from rural buyers, probably the highest for any car maker in India.