India has now one of the most impressive growths in the automobile industry. Major global auto companies are now introducing new models on a monthly basis but it seems that the Indian market is not ideal for all kinds of cars- at least, not for Terracan. Now, Hyundai is not going to sell this model in India because of lack of interest among the Indian consumers. I am quoting from a report of Business Standard:
“Hyundai Motor India (HMIL) has discontinued the sale of Terracan, its top-end sports utility vehicle (SUV), in the country. This follows the market’s poor response to the vehicle, with the company only selling 200 Terracans in 2005.
“This is the first case in India’s automotive history where a global major is withdrawing a popular brand due to a poor response from the market,” industry analysts said.
The company had high expectations from the Terracan when it was launched in August 2003, with projected annual sales of 700-1,000 units.”
However, don’t think that Hyundai is performing badly in India. No, overall performance of the company is good and in the first 8 months of 2006, Hyundai sold 198,625 vehicles in India.
Learn more by reading about Automobiles, Alfa Romeo and Renault Kangoo.
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