Rumour: Hyundai planning to enter Indian CV market

Hyundai is reportedly planning to enter the Indian commercial vehicle market. The company is said to have already started exploratory activities and is looking out for the perfect opportunity to mark its debut into the segment. As per media reports, the automaker will enter the Indian CV market by introducing trucks, and will subsequently also launch its buses in the country.

Hyundai stepped into the commercial vehicle business with its buses in 1978. Trucks were added to the company's CV portfolio in 1984. The company has dedicated commercial vehicle manufacturing facilities in three countries: Korea, Turkey and China. Hyundai CVs have presence in over 130 markets across the globe. It claims to sell around 1 lakh units every year.

The Indian CV market is showing signs of growth from the past several years. Sales of medium and heavy trucks in the country have encountered a growth of 15% in the period between April-October 2016, while sales of buses grew by 33%. Hyundai appears to be enticed by this continuous growth of the market and is thus planning to boost its CV business here. 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.

Source: Autocar Professional