There has been a change at the helm of Hyundai Motor India, the country’s second largest passenger vehicle manufacturer. The Korean carmaker announced on December 17 that Unsoo Kim has been appointed as its new managing director (MD) and he will take over from January 1, 2022.
- Hyundai had a 16 percent market share in PVs a year after SS Kim took over
- Hyundai’s UV market share grew seven percent under his leadership
SS Kim, the current MD, who was appointed on December 4, 2018, has been elevated to a global role at Hyundai Motor Company headquarters in Seoul, after his successful three-year stint in India.
SS Kim has played a key role in Hyundai Motor India’s growth over the past three years. In FY2019 (April 2018-March 2019), HMIL sold a total of 5,45,243 units and had a market share of 16 percent and 13 percent, in the PV and UV sector respectively. In last year’s COVID-impacted markets, the carmaker had a PV market share of 17 percent and sold 4,71,535 units. Importantly, in sync with the growing demand for SUVs in India, HMIL grew its UV market share to 20 percent.
SS Kim, who was one of our sister publication, Autocar Professional’s, Newsmakers of CY2020, has been on a relentless product blitz while conveying a strong statement on technology. Critics may argue that group company Kia is grabbing the spotlight, but Hyundai kept surging under his leadership.
The focus on diesel, even as arch rival Maruti Suzuki exited that market last April, continues to win buyers for some key Hyundai models. And more recently, there is a new and heightened focus on electric vehicles, particularly in light of the company’s recent announcement of a six-EV strategy for India by 2028.
In his latest interview with Autocar Professional, SS Kim has spoken extensively about the dynamic strategy the Korean carmaker has for the Indian EV market.
What are your thoughts on Hyundai Motors changing its MD at a time when there is a slump in the market? Let us know in the comments below.
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