Rumour: Hyundai to enter Indian CV market

Recent media reports suggest that Hyundai is currently in the process of evaluating the prospects of setting up a local commercial vehicles' business in India. The Korean manufacturer would be introducing trucks in the initial stages followed by buses. Hyundai would thus likely enter the intercity bus market in the near future. Being the second largest passenger carmaker in the country, the automaker will also get help from its familiar brand name, especially in setting up dealership network and vendors for the CV arm.

Hyundai stepped into the commercial vehicle business with its buses in 1978. Trucks were added to the company's CV portfolio in 1984. This is not the first time that Hyundai has attempted to enter the Indian CV market. In 2008, they were in talks with the Caparo Group to setup a manufacturing unit in India. 

Currently, Hyundai has a presence in 130 markets across the world. They have factories in Korea, Turkey and China. Hyundai claims that its global commercial vehicle sales amount to 1,00,000 per year.

Tata Motors and Ashok Leyland have dominated the CV segment in India. Hyundai is now eyeing a share of the pie along with other global players like Volvo, Daimler, Scania and MAN. In December 2016, it was reported that India topped the list of markets for expanding their commercial vehicle business.

Source: Business Standard