MARKET STUDY OF HYUNDAI ELANTRA

Abstract

Hyundai Motors India Ltd. presently has 17.3% market share in the passenger car segment &It has a target to increase it by 1% every year. Riding on the huge success of Hyundai Creta, the aspirations & expectations are soaring high.To further boost this campaign,Hyundai is planning to launch Elantra in 2016 with some modifications in its petrol & diesel variant. Hyundai has already launched Elantra thrice before this in the year 2004, 2012 & 2015.Hyundai Elantra has been launched in India several times by keeping in mind premium segment & with a desire to give a stiff competition to all the other established players in this segment which are Volkswagen Jetta,Skoda Octavia, Skoda Rapid, Toyota Camry, Honda Civic, Audi & others. They all use skim pricing in this segment. Its segmentation would be based on a mix of demographic, geographic, psychographic &behavioural factors. Its target market would be upper middle or social class comprising professionals, executives and people who are in the midst of their career.