Hyundai eyes commercial-vehicle segment

The company is also about to launch a new compact passenger model, Elantra.
Yoshiaki Ichimura, president of Hyundai Motor (Thailand), said details of the firm’s expansion will be disclosed at the Bangkok Motor Show 2012, to be held in March at Muang Thong Thani.
“We see great potential for commercial vehicles in the Thai market, which amounts to more than 400,000 units per annum, of which about one-third are big commercial vehicles. It is a segment in which Hyundai can compete. Commercial vehicles have become a strong business area for Hyundai in all global vehicle markets,” Ichimura said.
He said Hyundai’s commercial vehicles have been well accepted in recent years. Hyundai’s headquarters is studying whether to import commercial vehicles into the Thai market or launch local assembly to boost competitiveness. Thailand has strong local support for the industry, including suppliers of car parts and accessories, Ichimura said.
The company will add to its existing line-up of passenger cars with the launch of Elantra in the middle of March, targeting the compact-car segment. The company aims to sell about 1,000 units of Elantra this year.
Hyundai plans to launch another compact passenger vehicle – Hyundai I 10 – in the near future. The manufacturing plant for this model is in India, and if the implementation of the planned free-trade agreement between India and Thailand is successful, local consumers will benefit, Ichimura said.
The auto-maker projects total sales of 6,000 units in Thailand this year, up 30 per cent from 4,514 last year. The projected increase follows a disruption of sales during the fourth quarter last year due to the floods.
Industry-wide, total car sales in Thailand are forecast to reach 1 million units this year.
The company’s H-1 Series is still popular, with sales of 4,000 units targeted, followed by the Grand Starex VIP model, sales of which are projected to grow by 30 per cent this year.
“Hyundai’s total sales last year were very high. We achieved our target by adjusting ourselves to serve greater demand while stepping up brand-building to develop premium brands,” he said.
The company plans to open three new branches and service centres, taking the total to 26, by the end of this year.