Hyundai Will Enter The Underclass Market

Mukiat Sutikno said it plans to expand into the lower-car market to compete with Chinese products.

"It is true that in order to compete in the low segment, we are not available now, maybe in 1-2 years," he said in the Indonesia International Motor Show (IIMS) 2018 in Jiexpo Kemayoran, Jakarta, Thursday, April 19, 2018.

This is done because today he calls the Chinese product car more targeting the bottom segment. He also said at this time Hyundai already has some products that are still in the development stage to be sold to the bottom segment. However, he is still reluctant to mention the names of these products.

According to Mukiat, the products must be assembled in Indonesia. So that later the product will have a competitive price.

"Sold about Rp 150 million down," said Mukiat.

Mukiat gave the example of Hyundai cars for the lower segment that had been sold in India, Santro, which had stopped production. However, Mukiat said that Hyundai is currently developing the Santro type to play in the lower segment

As previously known, the Chinese manufacturer of car brands, Wuling, beat Hyundai in the list of 10 best-selling brands by 2017 issued by the Association of Indonesian Automotive Industries (Gaikindo).

Wuling, new to the Indonesian market in mid-August 2017, is tenth on the list with sales of 2.20 units by the end of the year. While Korean car manufacturers such as Hyundai and Kia are not included in the list.

According to Mukiat, the only way to increase sales volume is to enter the lower segment of the market. Because the segment is always the fatter in the context of sales volume.

"Not just in Indonesia, in any market for the bottom segment is the most fat," said Mukiat

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Hyundai Will Enter The Underclass Market

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