Hyundai Motor India has announced the appointment of Tarun Garg as Director – Sales, Marketing & Service, Hyundai Motor India.
An alumnus of the Delhi College of Engineering and Indian Institute of Management, Lucknow; Garg has 25 years of expansive experience in marketing, sales, network development, used car business. His previous assignment was as executive director - marketing, parts & logistics at Maruti Suzuki India.
Garg replaces Rakesh Srivastava, who quit Hyundai Motor India earlier this to join Nissan Motor India as managing director.
Hyundai Motor India, the No. 2 PV player, recorded domestic market sales of 44,660 units, up 2.03% year on year, but down 11 percent on October 2019's 50,010 units.
In the April-October 2019 period, the Chennai-based carmaker has sold a total of 294,444 units (-9.73%). Production in these seven months is 405,252 units (-3.85%), not surprising given the continued downturn in the Indian passenger vehicle market. Hyundai though is going great guns in the export market: 116,900 units (17.32%) and the No. 1 PV exporter at this stage. On November 30, the company began exports to a new market, South Africa, with a first consignment of 1,400 Venues, the compact SUV which is a popular buy in the domestic market.
With Hyundai's sister company Kia firing on cylinders in the Indian market, Garg will have to deploy his considerable experience to drive Hyundai Motor India's growth faster and also grow market share. At end-October, the Hyundai and Kia combined PV market share was 19.83% and UV market share was 24.28%.
His appointment comes on the same day when Hyundai Motor Group, Korea has unveiled a bold new global growth roadmap, titled Strategy 2025. Under this, the company will foster Smart Mobility Device and Smart Mobility Service as two core business pillars, aimed at facilitating the company’s transition into a Smart Mobility Solution Provider. These two pillars sit atop three key directions that the company has defined: enhancing profitability in internal combustion engine (ICE) vehicles, securing leadership in vehicle electrification, and laying the groundwork for platform-based businesses.
Also read: Hyundai reveals bold new EV-driven growth roadmap, targets 5% global vehicle sales, smart mobility leadership by 2025