New Delhi: Hyundai India on Wednesday said that skyrocketing fuel prices in this country increased demand for diesel models for companies.
Tarun Garg, Director (Sales and Marketing) of Hyundai India, said, “The Diesel model is 30 percent more fuel efficient than the gasoline version which causes a former increase in demand.” Hyundai was worried about the increase in fuel prices, he added.
He said even though 2021 faced a second wave of pandemic, sales are now normal to pre-covid levels.
However, the company was alert to the possibility of the third wave, the official said.
Garg said that the demand for SUVs rose and the Hyundai section of this category for overall sales was 47 percent.
According to him, Hyundai’s market share last year was 17.4 percent, the highest in the existence of companies in India for 25 years.
“We expect good growth this year to be behind the new launch”, he added.
In the past two years, the company introduced ten products in this country, he said, adding its aim to secure market leadership.
Executive Director of Hyundai India D H Park said that high fuel prices were one of the factors that affected the automotive industry in India.
“We are experiencing last year’s Lockdown pole and this year”, he said.
Hyundai plans to introduce mass market electric vehicles in India within three years where environmentally friendly systems are built like filling infrastructure.
Park said the company continued to invest in technology despite the pandemic situation.