High fuel prices shifting demand for diesel models: Hyundai official
Diesel models are 30% more fuel-efficient than the petrol versions which is causing the rise in demand in favour of the former
Leading automaker Hyundai India on Wednesday said that skyrocketing prices of fuel in the country is increasing the demand for diesel models for the company.
Tarun Garg, Director (sales and marketing), Hyundai India, said that diesel models are 30% more fuel-efficient than the petrol versions which is causing the rise in demand in favour of the former.
Speaking to reporters at Domjur in Howrah district, Garg said “Hyundai is concerned about the rise in fuel prices. But since diesel models are 30% more fuel-efficient than petrol versions, there is a hike in demand for the former”. He also said that demand for SUVs is going up and Hyundai’s share of this category to overall sales is 47%.
He further said that though 2021 faced the second wave of the pandemic, sales are now back to pre-Covid levels. However, the company is wary of a possible third wave, Garg added.
According to Garg, Hyundai’s market share last year was 17.4%, the highest ever in the company’s existence in India for 25 years. In the last two years, the company introduced ten products in the country, he said, adding the aim is to secure market leadership. “We are expecting a good growth this year also on the back of new launches”, he added.
Hyundai to enter electric vehicle space
Executive director of Hyundai India D H Park said that high fuel price is one of the factors affecting the automotive industry in India. “We are experiencing pent-up demand post lockdown last year and also this year”, he added.
Park added that the company continued to invest in technology despite the pandemic situation.
Hyundai plans to introduce a mass-market electric vehicle in India within three years for which an eco-system has to be built like charging infrastructure.