Hyundai Motor India on Tuesday said it will launch at least six new models in the next three years as it looks to enhance its position in the domestic car market. The company, which on Tuesday became an official partner for International Cricket Council (ICC), will also be spending Rs 200 crore in the next five years on advertising and promotions.
“Starting from this year, we are looking at launching two new models every year in the next three years,” Hyundai Motor India Ltd (HMIL) Director Marketing and Sales Arvind Saxena said. This year the company will launch two new models, he said without specifying details. The company is the second biggest car maker by volume in India after Maruti Suzuki.
Besides launching new models, Saxena said the company will be intensifying campaign and promotions, specially around the ICC World Cup, which is scheduled to be played in the sub-continent. “In the next five years we will spend roughly Rs 200 crore on campaigns across the board, including the partnership with ICC,” he said.
While HMIL will be the official partner for the mega cricketing event being held from February 19 to April 2, its parent Hyundai Motor Co has become the exclusive car partner for the global cricket body from 2011-2015.
Saxena said HMIL is looking to extract the maximum mileage out of the world cup to enhance brand image as well as push sales. “While it is difficult to put a number as to how much sales we would achieve during the world cup, the event gives us an opportunity to cut across customer segments as cricket is universal in India,” he said. HMIL, which sold a total of 6 lakh units in 2010 is targetting sales of 6.3 lakh units this year, he added.