Hyundai expands 'Grameen Mahotsav' initiative to more locations in India
What's the story
Hyundai Motor India hasannounced the expansion of its 'Grameen Mahotsav' program to an additional 16 sites across the country.
This decision comes after a successful launch event in Mahemdavad, Gujarat.
The initiative is designed to strengthen Hyundai's relationship with rural India through product exhibitions, folk dance, live music, and regional talent shows.
It also serves as a platform for the firm to tap into the vast potential of rural markets.
Growth
Hyundai witnesses significant growth in rural areas
Hyundai's Chief Operating Officer, Tarun Garg, highlighted the company's impressive growth in rural markets during the fiscal year 2023-24.
"Our sustained efforts toward bolstering rural connect are bearing great fruits and Hyundai Motor India has witnessed a remarkable growth in rural markets in the financial year 2023-24," he stated.
The CEO reported that the firm sold 1.15 lakh cars in rural India last year, marking an 11% increase over the previous fiscal year.
Market potential
Confidence in rural market potential
Garg expressed confidence in the potential of rural markets, citing favorable conditions such as good monsoon, rising income levels, and improved infrastructure.
"We are confident that with good monsoon, increasing income levels and improved infrastructure, the contribution from rural markets will further increase," he said.
Hyundai revealed that nearly 40% of its sales and service networks are located in rural areas, demonstrating its commitment to fostering strong relationships with these communities.