Auto Maker Hyundai Optimistic Even as India's Car Market Stagnates

摘要

The automobile market is stagnating. Car makers, however, are relatively better off than the rest as low oil prices and declining interest rates have helped increase sales. One major player, Hyundai Motor Co. has indicated it will not need to build new factories in India as local car sales are unlikely to grow faster than 10% annually over the next five years. "Double digit is not possible. It is not easy. But I am not pessimistic, I am very positive about the market, but it will not be a six million market (by 2021)," Y.K. Koo, managing director and chief executive of Hyundai Motor India Ltd said in an interview recently. "I am expecting the market to grow by 5-7% every year."