India is quickly becoming the Number 3 Automotive Market after US and China, The world’s second largest population armed with a strong economy and growing middle class’s high buying capacity, India’s importance in the Global Automotive Marketing is increasing steadily.
The makers of the i20 Elite and Creta – Hyundai Motors from Korea has made a very important decision for the Indian auto market by choosing India as its base for a regional headquarters – one of only three globally. The other two such headquarters are based in North America and Europe. Hyundai has consistently been the Second Largest Automotive Manufacturer in India, this was one of the reasons for this decision. Also Sister brand KIA, will start building and selling cars in India from the second half of 2019, will also report to the India headquarters.
“As the business environments for carmakers are rapidly changing and automakers now face fiercer competition, Hyundai and Kia have decided to allow the regional operations centers to make quick changes to reflect vehicle demand and make timely sales-related decisions in the major markets,” Hyundai said in the statement.