-2.1 C
New York City
Monday, March 4, 2024
Home NEWS Nigeria Hyundai Nigeria Targets Over 20% Market Share in 2016

Hyundai Nigeria Targets Over 20% Market Share in 2016


[dropcap]D[/dropcap]espite the nation’s unpleasant economic climate, coupled with scarcity of FOREX required to procure kits for assembly plants operations, Hyundai Motors Nigeria Limited has announced its resolve to slice at least 20 per cent of the nation’s automobile market share in 2016.

The company’s Branch Manager, Karthik Nayak disclosed this exclusively to Motoring World International during a media briefing held at the Hyundai showroom on Victoria Island, Lagos last week. The goal, he said, would be achieved by further strengthening the brand’s market presence in terms of important indicators such as quality, product competitiveness and brand value.

He stressed: “We shall continue with Hyundai’s traditional customer offerings, especially being customer-focused, excellent after sales service and top quality automobiles at competitive prices.”

Karthic Nayak : We shall continue with Hyundai's traditional customer offerings
Karthic Nayak : We shall continue with Hyundai’s traditional customer offerings

According to Nayak, although due to the ongoing economic challenges, the company experienced 13% drop in sales in 2015, all things are being put in place to ensure that the brand achieves a market share of 20% and above this year.

” In 2015, we had a market share of 15% in this particular segment,” Nayak said, “We want the new Elantra to do more this year. We want to exceed that figure in 2016.We are looking at 20- 25%.”

And of the new Elantra launched last week, Nayak said Nigerian auto buyers are being offered three options.

” This 6th generation Hyundai Elantra models were designed to create an opportunity for auto buyers to make their choice in between fuel efficiency and power,” he pointed out, adding, “With its aesthetic upgrade, new alloys, integrated Bluetooth, the new Elantra elegance 1.6 with 96kw at 6300 and torque of 157, for example, has been awarded the highest rated mid-size sedan in its segment. We are offering to Nigerians fuel efficiency. Other changes are also there. Some want more power; they can go for Elantra powered by 2.0 litres engine.”

” When compared to arch rivals, the Elantra is noticeably quiet at freeway speeds and indeed one of the quietest cars in its segment. The ride quality is fine and it soaks up road noise better than its competitors.”




Most Popular

Toyota Shutdown More Production Lines After Emission Test Irregularities

Toyota Motor has extended until March 1 the shutdown of two production lines at two manufacturing plants run by Toyota group companies in Japan,...

Volvo Launches New Volvo EX30 Electric

The new Volvo EX30 has officially launched in South Africa, arriving as one of the most accessible fully electric vehicles (EVs) in the country and signaling...

Mercedes-Benz Team Receives another High Profit Sharing Bonus, Amidst Global Economic Crunch

Based on the preliminary results for the 2023 financial year published today, eligible employees are expected to receive a profit sharing bonus of up...