Getz gets bid adieu
Hyundai Motor India has confirmed the phasing out of its hatchback Getz in a couple of months. The global market has found out the replacement from i20 hatch back. India seems to be the last land to roll down this Getz. The company has sensed the climax of the model life and the sale too has been very low, following the launch of i20. Moreover, customers having a look at this Getz at the showroom finally cast in favor of i20. This new i20 has drawn the customers with its style and a whole lot of features.
The second largest car maker in India, is in the frontline after Maruti Suzuki, has clamped the car market with its Santro, i10, i20, and Getz. The company is on the verge of expanding the small car segment without expanding the entire portfolio. Thus, there will be an SUV by this year end in the range of i35(also called new2010 Tucson or even larger Santa Fe). Hyundai had a debacle with its earlier SUVs like Terracan and Tucson, of which Terracan has become the vogue.
Tucson disappointed Hyundai with the low volume of sales during April-February 2009-10 with the sale of just 14 units @70% fall in sales. The Indian car market is highly sensitive to the SUVs. The factors that go against this SUV are that the sales volume and the pricing does not match together. Hyundai derives this model as CBUs, that little number of SUVs cannot be manufactured in India. But CBUs are not feasible due to the pricing.
The global market for Hyundai has Azera, Genesis(sold in North America, Europe and South Korea. Hyundai believes that the Indian car market is highly structured with 80%small cars and 20%is constituted by the rest. The company likes to make it self present in all segments as a full time manufacturer. The year 2008 was a good one for Hyundai despite other auto makers faced the failure due to recession. Hyundai has been the lone mainstream car manufacturer in the US for effecting good sale.
The growth has gone to 4.2% from 3 % of 2008. Worldwide, 2009 was a year to boast off Hyundai –Kia combine, to became the fourth largest carmaker.