Korean car brands have a significant share in the Indian market. Let’s see which Korean car makers were able to make it in India or not!
The Indian car market has always had a lucrative appeal to international car brands, especially the Korean ones. Several major Korean car companies have been able to make a mark in the hearts of Indian buyers. But, despite having a big shot in other parts of the world, some Korean carmakers could not take the Indian auto industry forward.
Hyundai is the perfect example of a Korean brand that had a huge success in the Indian market. And if we talk about the failure of the Korean car brand in India, Daewoo will be the first name. Let us cut down on the chit-chat and help you learn more about the hits and misses of Korean car makers in India.
Hit – Kias
Kia made its debut in the Indian market in 2019. Its first launch in India was the SUV Kia Seltos. Within a few days of its launch, the Kia Seltos became a favorite of many Indian car buyers. The brand further expanded its reach in the Indian market with the Kia Carnival.
The brand makes sure to pack incredible specifications that are in line with the Indian driving habits. The Korean car brand has a car manufacturing facility of 536 acres in Andhra Pradesh. Kia currently has three models in India – Seltos, Carnival and Sonet. However, it is all set to launch its next product, Carence, in India soon.
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Miss – Daewoo
You would be curious to know how a world class brand like Daewoo failed in India. Well, for starters, their pricing strategy was the primary reason for the failure. Their cars are priced much higher than their rivals in the Indian market. Also, the lack of proper marketing strategies stunted the growth of Daewoo in India.
It also could not compete against well-known brands like Hyundai and Maruti Suzuki. Within a decade, Daewoo was in the midst of an economic crisis in the Indian market. Soon, the company had to scale back its operations and manufacturing in India.
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Hit – Hyundai
If there is one car brand that Indians blindly trust, it is Hyundai. With great budget models like the Santro and i10, Hyundai has an offer that no Indian car buyer can resist. It is worth noting that some of the best selling cars in India are from Hyundai.
The Korean car brand set the bar high for its other Korean brethren. You should also know that Hyundai is the second largest automobile company in India with a market share of 16.2%.
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Miss – Sangyongo
Ssangyong was unable to create a compelling value-packed proposition for its Indian buyers. The Korean carmaker debuted in India with the Tivoli-based XUV300 and Rexton models. There were many gaps in the product portfolio of this car brand.
In his 11 years in India, Ssangyong filed for bankruptcy twice. With only one successful SUV model in the market, the brand was finding it difficult to keep up with the competition. Eventually, Ssangyong had to stop production.
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0 notes
Even though Indian car buyers did not embrace SsangYong or Daewoo, Hyundai and Kia successfully caught their interest. So, what are your thoughts about these Korean car brands hit and miss?
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