South Korean carmaker Hyundai had entered India with the same tagline “New thinking, new possibilities” in English. When Hyundai announced its entry into India in the 1990s, there were companies like Maruti Suzuki, Premier, Hindustan Motors, Tata and Mahindra that had a monopoly in the market. But in a short time this company became so famous among Indians that it has now become the second largest automobile company in the country.
Like a guest in a new country, this journey from entry to number two was not very easy for Hyundai. Recently, the company has done the largest IPO in the history of India, the size of which is $3.3 billion (approximately Rs 27,870.16 crore). The history of Hyundai, which began its journey in India about 28 years ago with a small car like the Santro, is very interesting. Let’s take a look at Hyundai’s history to see how it got to where it is today.
Welcome to India:
When Hyundai entered India in the 1990s, there were local brands Tata, Mahindra, Maruti Suzuki and Hindustan Motors. On May 6, 1996, the South Korean automaker began its journey in much of Asia as Hyundai Motor India. On the same day, the company inaugurated its first plant in Tamil Nadu. Barely a year before the arrival of Hyundai, companies like Ford, Opel and Honda had touched Indian soil.
First car launched:
Even before coming to India, Hyundai had done extensive research and the company was aware that if it wanted to be successful in the local market, it would need to become popular among the common people. Keeping this in mind, Hyundai launched the Hyundai Santro hatchback as its first car on September 23, 1998. This small car started showing wonders as soon as it hit the market and by that time a new option had emerged among Indians who were dreaming of have a Maruti car.
The small car became big: 1998
The company had supplied Santro with a 1.1-litre petrol engine based on Hyundai’s Atos global model. Being small in size, this car was not only economical but its elegant appearance also contributed to making it an ideal city car at that time. Hyundai has introduced its first car in the Indian market at a starting price of just Rs 2.99 lakh. This car had direct competition with the Maruti 800, which was until now the best-selling car in the segment.
Over time, Santro’s story progressed and the company started featuring famous Bollywood actor Shahrukh Khan in its advertisements. This car also benefited from the popularity of Shahrukh Khan and within a short time it reached every home in the country. There is an interesting story behind the name of this car. Actually, the name Center is made up of the first two letters of Saint-Tropez, a city in the south of France (Sain-Tro).
Santro played an important role in strengthening Hyundai in India and by early 1999, Hyundai became the country’s second largest automobile manufacturer after Maruti Suzuki. On March 31, 1999, Hyundai Motor India officially announced it. Now other local giants had realized that a new but strong competitor had entered the market.
Entry into the sedan segment: 1999
On October 14, 1999, Hyundai launched the Hyundai Xcent as its first sedan in the Indian market. After the success of Santro, Accent also proved to be a much better fit for the company. Among the SUV and hatchback models, the Xcent gained wide popularity among customers. This 1.5-litre 4-cylinder sedan was launched at a starting price of just Rs 3.75 lakh at that time. Nowadays you can’t even get a hatchback car at such a low price.
New milestone year: 2000
The Indian automobile market, standing on the threshold of the new century, was going through a period of significant change. This year also turned out to be much better for Hyundai. On April 27, 2000, just 19 months after starting its operations in India, Hyundai launched its 1 lakh car from the Chennai plant. Following this, on June 12, the company announced the sale of 1 lakh units of Santro. The company’s presence in the market seemed to be getting stronger and on November 29, Hyundai introduced its 1.5 lakh car.
Ultra-luxury sedan launched: 2001
Hyundai was acting as a slow burner. With Santro, it gradually increased attention by introducing the brand to customers with an affordable car. In this case, the growing appetite for cars among Indian customers also supported the company. On July 18, 2001, Hyundai launched the Hyundai Sonata as its ultra-luxury car in India. Equipped with a stylish look and cutting-edge features, this car was launched at a starting price of Rs 11.99 lakh at that time.
Hyundai Sonata became famous for its special appearance and advanced features. Equipped with a 2.4-litre MPFi petrol engine, this car had features like power steering, electric windows, electrically adjustable mirrors, anti-lock braking system (ABS) and premium upholstery. Which was something completely new for the common customer at that time. This car helped establish Hyundai as a powerful automobile manufacturer.
Entry into the SUV segment: 2003
Until then Hyundai had strengthened its position in the market and the company was fully prepared for new experiments. On August 4, 2003, the company launched its premium SUV Terracan, entering the sports utility vehicle segment. Equipped with a 3.0-litre diesel engine, this SUV was introduced at a starting price of Rs 18 lakh at that time. Based on a ladder frame chassis, this car also received an all-wheel drive (AWD) system. At the end of the year, in December, the company announced the launch of the 5 lakh car.
Powerful premium hatchback: 2004
In 2004, the company launched two new cars. In April, the company introduced the Elantra sedan, which it couldn’t do much about in the future. But on September 10, the company launched the Getz as the country’s premium hatchback. In this car, the company had provided a 1.4 liter displacement gasoline engine, as seen today in compact SUV cars. At that time, this car was introduced at a starting price of Rs 4.50 lakh. Due to the high price, this car could not do anything special either.
i10 and i20 wrote a new history: 2007-08
In the last few years, Hyundai had understood what Indian customers wanted. The result was that on October 31, 2007, the company launched its new i10 hatchback. Due to its stylish looks, this car gave tough competition to Maruti Suzuki at that time. With a starting price of just Rs 3.82 lakh, this car became very popular among Indian families.
On the other hand, the failure of Getz disappointed the company, but it did not spell the end of the premium hatchback segment. The company again geared up and launched its new premium hatchback i20 model the following year i.e. on December 29, 2008. These two cars gave a new boost to Hyundai and the company also started exporting its cars to other countries. . On February 22, 2010, the company announced the fastest export of 10 lakh cars.
Ordinary customers were not left behind: 2011
Until then, Hyundai had been in India for more than a decade. The journey that began with Santro had reached luxury cars like the Santa Fe. But Hyundai was aware of the important role the middle class played in its popularity. Keeping this in mind, the company launched its cheapest car, the EON, globally on October 13, 2011. This was the first time that the Maruti Alto 800 had a direct competitor. This car was launched at that time for just Rs 2.96 lakh. In addition to continually introducing new models, on October 17, 2013 the company announced the launch of its 5 millionth car.
Focus on SUVs and start a new journey: 2015
In the year 2015, the tastes of Indian car buyers were changing rapidly. Until now, many foreign companies had increased competition in the market by introducing new segments. Hyundai also launched its new CRETA on July 21, 2015. While there were giants like Tata Motors, Ford, Mahindra and Toyota in the SUV segment in the market, this was a big step for Hyundai which was popular among hatchbacks. and sedans.
But Creta became so popular that more than 10 lakh units have been sold so far. After this, the company introduced its new Venue and last year the company also launched Exter in the market. The position Hyundai has achieved among Indian customers in 28 years is not easy for everyone. Even today, Hyundai is the second largest automobile manufacturer and the company faces stiff competition from Tata Motors for this position.
