NIFTY 50

Hyundai India's Tarun Garg expects growth in 2020 after last year's auto slowdown

Updated : January 22, 2020 02:44:27 IST

Hyundai India has launched Aura in the sedan segment. Tarun Garg, director sales and marketing at Hyundai India, talked about how the car fits in Hyundai's India strategy and the his expectations for the auto industry this year in an interview with CNBC-TV18.

“In the calendar year 2019, this less than 4-metre sedan segment contributed 11 percent to the overall industry volumes and the volume was about 338,000. If you see Hyundai’s performance, so far we had only Accent in this segment. So there was definitely a space there and we thought if we give the customer a good product with lot of features, with a lot of powertrain options, we will be able to get some good volumes,” he said.

Garg added: “As Hyundai India we are very lucky that we have so much support of HMC and when we talked about diesel BS-VI especially in the compact segment, we understand the industry talk was that it is not an easy job to give a good engine at a good price but here we are — today we are very happy to offer BS-VI diesel engine, which has been developed by HMC and the pricing is also very competitive. The gap between petrol and diesel is Rs 117,900, which is a very competitive price."

Automobile companies in the country endured a difficult 2019 with most major automakers reporting declining sales over the course of the year. Garg said that the worst is behind the auto industry and 2020 will be better.

“Everybody believes that the worst is behind us. Calendar year 2019, we saw the bottoming out of the industry with 12 percent degrowth. So our expectation is that calendar year 2020 should definitely be better than calendar year 2019 and we are hopeful that the industry should see a low single digit growth in calendar year 2020,” said Garg.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you