Employees Health and Safety

1. INTRODUCTION

INDIAN AUTOMOBILE INDUSTRY

A market is never saturated with a good product, but it is very quickly saturated with a bad one. - Henry Ford

The automotive industry is one of the largest industries worldwide and in India as well. The automotive sector is a vital sector for any developed economy. It drives upstream industries like steel, iron, aluminium, rubber, plastics, glass and electronics, and downstream industries like advertising and marketing, transport and insurance.

The automotive industry can be divided into five sectors:1) Passenger Cars 2) Multi- Utility Vehicles (MUVs) 3) Two- and Three- Vehicles 4) Commercial Vehicles - Light Commercial Vehicles (LCVs) / Medium and Heavy Commercial Vehicles (MHCVs) 5) Tractors

Employees Health and Safety

We will be looking at the Passenger car industry in India.

Despite a head start, the passenger car industry in India has not quite matched up to the performance of its counterparts in other parts of the world. The primary reason has been the all-pervasive regulatory atmosphere prevailing till the opening up of the industry in the mid-1990s. The various layers of legislative Acts sheltered the industry from external competition for a long time. Moreover, the industry was considered low-priority as cars were thought of as unaffordable luxury

Employees Health and Safety

2. OBJECTIVES

Some of the Objectives which are focused upon in this report are:
A comprehensive analysis of Indian Automobile Industry. To study the Marketing Strategies of HMIL wit focuses on Santro. To focus on Marketing Mix of Hyundai Santro. To study the consumer satisfaction level with focus to Hyundai santro. Special emphasis on Promotional activities of Santro and how HMIL has been able to reposition it in recent times. Recommendations and observations regarding HMIL.

Employees Health and Safety

3. HISTORY OF INDIAN AUTOMOBILE INDUSTRY

Initially, in the post-liberalization period, the automotive sector, especially the passenger car segment, saw a boom, derived primarily from economic vibrancy, changes in Government policies, increase in purchasing power, improvement in life styles, and availability of car finance. The passenger car industry was finally deregulated in 1993. However, the automobile industry, which contributed substantially to the industrial growth in FY1996 failed to maintain the same momentum between FY1997 and FY1999. The overall slowdown in the economy and the resultant slowdown in industrial production, political uncertainty and inadequate infrastructure development were some of the factors responsible for the slowdown experienced. In FY2007, the sector experienced a turnaround and witnessed the launch of many new models.

Two things that stunted growth of this industry in the past have been low demand and lack of vision on the part of the original equipment manufacturers (QEMs). However, the demand picked up after the liberalization of the regulatory environment, and global QEMs- who enjoy scale economies both in terms of manufacturing and research and development (R&D) - entered the Indian market. This has resulted in a big shift in the way business is conducted by suppliers, assemblers and marketers.

Employees Health and Safety

4. PASSENGER CAR INDUSTRY IN INDIA: HIGHLIGHTS

Passenger car sales are expected to increase at a compound annual growth rate (CAGR) of 8% over the period FY2006-2007. The six broad segments in the car market today are- Mini, Compact, Midrange, Executive, Premium and Luxury. In the medium term, growth in the Indian passenger car industry is expected to be led largely by the Compact and Mid-range Segments.

The critical success factor has changed from price to price value. In terms of engine capacity, the Indian passenger car market is moving towards cars of highest capacity.

With the launch of new models from FY2007 onwards, the market for MUVs has been redefined in India, especially at the upper end. Currently, the higher-end MUVs, commonly known as Sports Utility Vehicles (SUVs), occupy a niche in the urban market. With the success of SUVs, the line of distinction between passenger cars and MUVs in the Indian market is getting increasingly blurred.

Employees Health and Safety

Domestic car manufacturers are now venturing into areas such as car financing, leasing, and fleet management, and used-car reconditioning /sales, to complement their mainstay-business of selling new cars.

4.1 Trends in the Indian Passenger Car Industry

Distribution Systems: Changing relationship of manufacturers with dealers and suppliers Auto finance: Better/ cheaper schemes

Product technology: MPFI; CRDi; diesel system

Entry of Foreign Manufacturers

Manufacturing Technologies: Indian Passenger Car Industry Flexible Manufacturing Systems Components: Tierisation; Structure of demand: Change in industry segmentation Tyres: Radials, Retreading Materials: Low weight; Synthetic Composites

Regulatory framework: Deregulation; De licensing; Removal of QRs; Introduction of strict Emission norms

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4.2 Key Developments in the Industry

DOMESTIC SALES APR-AUG COMPANY NAME Daimler Chrysler India Pvt Ltd Fiat India Automobiles Pvt Ltd Ford India Ltd General Motors India Ltd Hindustan Motors Ltd Honda Siel Cars India Ltd Hyundai Motor India Ltd Maruti Udyog Ltd Skoda Auto India Ltd Tata Motors Ltd Toyota Kirloskar Motor Ltd Total Passenger Car Sales 2006 633 2907 8852 7179 5610 13813 48299 162007 3003 58548 4519 315370 APR-AUG 2007 662 635 6944 4981 5626 17560 63140 169606 3439 55536 4030 332159 GROWTH 4.6 -78.2 -21.6 -30.6 0.3 27.1 30.7 4.7 14.5 -5.1 -10.8 5.3

MARKET SHARE APR-AUG 2006 0.2 0.9 2.8 2.3 1.8 4.4 15.3 51.4 1 18.6 1.4 100 APR-AUG 2007 0.2 0.2 2.1 1.5 1.7 5.3 19 51.1 1 16.7 1.2 100

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During April August 2007, the passenger car sales in India at 332159 units, marked a growth of 5.3%over the previous year. The growth in the domestic sales of passenger cars was led by strong growth in volumes reported by compact and mid size segments. While the share of mini and executive segments declined in the period under study, the share of other segments increased. For instance, the share of compact segment in the domestic car sales increased from 59.7% in April August 2007 to 64.9% in April August 2007, mid size segment from 20.5% to 22%, and the share of Premium segment was stagnant at 0.7% in the same period.

New variants launches, easy availability of finance at relatively lower interest rate and price discounts offered by the players have played an important role in driving the sales growth in the domestic passenger car industry.

Among the top three manufacturers, HYUNDAI reported a strong growth in sales of its compact and mid size car models and increased its market share in April August 2007 vis-avis corresponding previous. For Maruti Udyog Ltd, a marginal growth in sales volumes allowed it to maintain its market share during the first five months of FY2006 while the market share of Tata Motors declined in the same period.

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4.3 Key Demand Drivers

Traditionally, disposable income was perceived as the key factor driving passenger car demand. But over time, other factors that are known to have an impact on demand have emerged. These include the need for greater mobility, non- availability of public transport services, availability of cheap finance, development of the used-car market, introduction of new technologically superior models, increasing levels of urbanization and changing consumer profiles.

There is a high degree of correlation between the demand for cars and ECONOMIC GROWTH.

High degree of correlation between PER CAPITA INCOand demand for cars, increase in the number of people crossing the income threshold, and CHANGING CONSUMER PROFILE are likely to increase and change the structure of demand.

Availability of NEW MODELS is likely to increase and change the structure of demand.

CAR DEMAND

The Central Governments AUTO POLICY on excise and customs is an important aspect affecting the demand and supply of cars.

Competitive PRICING is crucial for gaining market share, especially in the small car segment.

AVAILABILITY OF CHEAP FINANCE is a key determinant of demand as most cars (around 60%) purchased in India are financed.

A mature USED CAR MARKET would, on one hand, encourage consumers to trade in their cars faster, and on the other, eat well into the share of new cars.

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5. Hyundai Motors India Limited

An Overview
Hyundai Motor India Ltd. (HMIL) is a wholly owned subsidiary of the Hyundai Motor Company (HMC), Korea, a part of the Hyundai Motor Group comprising Hyundai Motor Company, Kia Motors, Hyundai Mobis and other affiliated companies, with a combined turnover of over US$ 50 Billion. The Hyundai Motor Group with a presence in over 185 countries and combined annual sales of over 3 million units is one of the fastest growing auto manufacturers in the world.

HMIL has emerged as the second largest and the fastest growing car manufacturer in India. HMIL presently markets over 26 variants of passenger cars in six segments. The Santro in the B segment, Getz in the B+ segment, the Accent in the C segment, the Elantra in the D segment, the Sonata in the E segment and the Tucson and Terracan in the SUV segment.

The company recorded combined sales of 215,630 during calendar year 2006 with a growth of 43% over year 2007. HMIL is India's fastest growing car company having rolled-out over 700,000 cars in just over 70 months since its inception and is the largest exporter of passenger cars with exports of over Rs. 1,700 crores. HMIL has recorded a staggering growth of 149% in exports over the year 2007.

HMILs fully integrated state-of-the-art manufacturing plant near Chennai boasts some of the most advanced production, quality and testing capabilities in the country. In continuation of its investment in providing the Indian customer global technology, HMIL has announced plans for its second plant, which will produce 150,000 units per annum, raising HMILs total production capacity to 400,000 per annum by

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2007. The plant will be built on a 2.1 million square meter site adjacent to the existing facility with an investment of $450-$500 million on its new integrated facility. HMIL is investing to expand capacity in line with its positioning as HMCs global export hub for compact cars. Apart from expansion of production capacity, HMIL plans to expand its dealer network, which will be increased from 146 to 180 this year. And with the companys greater focus on the quality of its after-sales service, HMILs service network will be expanded to over 1,000 in 2007.

HMIL has many awards in its bouquet. It was declared The Star Company amongst unlisted companies by Business Standard this year. Getz got the coveted Car of the Year 2007 award twice over. It was declared a winner by both Business Standard Motoring and CNBC-TV18 Autocar Auto awards. Hyundai Elantra won the CNBC-TV18 Autocar Best Value for Money Car Award.

HMIL was also the Manufacturer of the Year two years in a row in 2006 and 2007. ICICI Overdrive Awards declared Hyundai as the Car Maker of the Year in 2007. Hyundai products with state of the art technology have also been winning many accolades over the years. Santro bagged top honours in JD Power Asia Pacific for three years. Accent was ranked No. 1 in J D Power Asia Pacific APEAL for two years and also got Business Standard Motoring Jury award for its CRDi model.

HMIL has also been awarded the benchmark ISO 14001 certification for its sustainable environment management practices. The following table shows the HMILs cars and the various segments they belong to as in the Indian market.

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Segment

Classification

HMILs Car

Price (Ex Showroom in Delhi)

B B+ C D E

Sub - Compact Compact Mid Size Premium Luxury

Santo Xing Getz Accent Elantra Sonata

Rs. 278999 Rs. 421000 Rs. 529000 Rs. 853793 Rs. 1399000

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6. NEW MILESTONES

The Indian passenger car market is a highly competitive market. Although its growth has been hi in past several years, profitability has been impacted because of rising costs, change in excise policies and intense price competition. With the developed countries like USA and UK having 350 as an average no of cars per thousand persons it is very low in India (5). So in future, the arena of competition is most likely to be shifted to developing countries like India and that too in a highly competitive segment like BSegment. With the opening of economy and relaxing norms by government, the market has started witnessing the entry of new global players like Toyota, Honda and GM in the Indian market, pointing to further intensification of competition in future. With the consumer attaching higher value to the features and economy in case of car buying, the players are likely to focus more o product development (to incorporate dvanced features in their designs) and advertisements (to set up their own positions in a consumer mind). HMIL is emerging as a major player in Indian passenger car market. Its products are Santro and Accent are success stories in themselves. But the buck does not stop here only. Its parent company HMC is focusing upon HMIL as a base to integrate its production and R & D facilities across Asia Pacific. For that HMIL is planning to increase its present production capacity of 2.5 lakh cars per year to 4 lakh cars per year by 2007.

Exports are also another front which is giving HMIL an intense opportunity to expand. For the first six months of this fiscal HMIL has exported cars worth Rs. 1,325 crores and targeting an overall export of over Rs. 2,700 crores in this fiscal up from Rs. 1,700 crores in 2006-07. HMIL has sold a total of 236,878 vehicles in the Calendar Year 2007 so far, achieving a growth of 21% over the January-November sales in 2007. While domestic sales in January-November, 2007, were

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148,515 - a growth of 16.6% over the previous year, overseas sales during the period stood at 88,363 units - a growth of 29%. In November, 2007, HMI sold a total of 21,725 units - 14,010 vehicles in the domestic market and 7,715 cars in the overseas market. Over the years, HMIL has been focusing on effective brand building and consumer strategy. This has contributed towards enhancing their bottom line. A significant contribution in this success is of the advertisement strategy adopted by HMIL. It has changed its advertisements time and again. Now HMIL has started a new initiative under which they have started their own in house advertising agency known by the name of Innocean which will handle its all promotions. With the new initiatives, HMIL is all set to achieve its ambitious growth of 30% in sales over last year. Thus, Hyundai motors India limited is all set to conquer the Indian passenger car industry.

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7. AWARDS & RECOGNITIONS

As one of the fastest growing automobile compaies in India, Hyundai has many accomplishments to its credit.

Business Standard - Star Company Award to Hyundai Motor India

JD Power Asia Pacific

Hyundai Santro has topped the JD Power Asia Pacific Initial Quality Study (IQS) that measures product quality for three years in a row (Years 2007, 2006 and 2007)

Hyundai Santro has topped the JD Power Asia Pacific APEAL study that measures customer satisfaction for three years in a row (Years 2006, 2007 and 2008)

Hyundai Accent has topped the JD Power Asia Pacific IQS for 2007 and the APEAL study for 2006 and 2007.

Business Standard Motoring

Hyundai Getz is BS Motoring's 'Car of the Year' 2007 BS Motoring BS 1000 Company of the year 2007 Hyundai Motor India Limited Hyundai Santro is BS Motoring's 'Car of the Year' for 1999

CNBC

Hyundai Getz is the CNBC Autocar Car of the Year 2007 Hyundai Elantra Best Value for Money Car of the Year 2007 Company Awards CNBC Autocar India Hyundai has been the manufacturer of the year for two years in row.

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ICICI Bank

Hyundai Motor India was adjudged the Car Maker of the year at the ICICI Bank Overdrive awards 2006

HMIL has also been awarded the benchmark ISO 14001 certification for its sustainable environment management practices.

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8. PRODUCT HYUNDAI SANTRO

The Santro was launched on September 23rd 1998 in the Indian market and the company sold around 17000 units in first five months. The Tall Boy concept was well taken by the Indian Customer. Since its inception Santros sales has been achieving an annual growth rate of about 20% on an average. An advertising campaign starring Shah Rukh Khan and Preity Zinta was unleashed to further boost the sales and this has certainly proven to be effective. As a result of which Santro has now become a market leader in its own Segment (B-Segment) leaving earlier market leader Maruti Zen and Tata Indica. Repositioned from being a family car to an individuals first car, within a short span of time the Santro has been able to capture the hearts and minds of the consumers.

Models Santro XK Non AC (Solid) Santro XK Non AC (Metallic) Santro XK AC (Solid) Santro XK AC (Metallic) Santro XL (Solid) Santro XL (Metallic) Santro XO (Solid)

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Employees Health and Safety Santro XO (Metallic) Santro Xing AT (Solid) Santro Xing AT (Metallic)

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9. MARKETING STRATEGY
Strategy and timing are the Himalayas of marketing. Everything else is the Catskills. - Al Ries

HMIL has been successful in capturing the car market because of the excellent product it has produced. The market research conducted by Hyundai showed that Indian cars were overcrowded, with turbans and sarees to be accommodated. The idea was to create a voluminous compact car. The tall boy model was taken from the Atoz and it was redesigned to meet Indian conditions. Thus, the Santro was born. The Santro is available in a number of versions and has a number of new built-in mechanisms---power windows, power steering, central locking, side impact beams, frontal crumple zone, child safety locks, seat belts, multi-point fuel injection systems and CFC-free air-conditioners. The Santro is available in nine new colours. The car also gives high mileage. The engine delivers adequate torque i.e. the ability to pull loads even at very low speeds---this proves to be very essential for slow and traffic-heavy Indian conditions. The most important is the seating, which is, high and gives road command.

Hyundai was competing with Maruti in the small car segment and it offered technology that other car makers thought was too advanced for the slow growing Indian market. Hyundai has now built up a reputation such that it is the first preference of anybody who has driven or ridden in it.

The marketing strategy employed by Hyundai for the Santro can be studied with insights into their STP analysis and Marketing Mix.

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10. STP SEGMENTATION, TARGETING, POSITIONING

Marketing is not an event, but a process . . . It has a beginning, a middle, but never an end, for it is a process. You improve it, perfect it, change it, even pause it. But you never stop it completely. - Jay Conrad Levinson

10.1 Segmentation

Segmentation is based upon considerable evidence that a single marketing approach or formula will not work for all members of the community to be served.

Geographic
The region of interest of HMIL for Santro is whole India with special focus on Type A and fast growing Type B cities across India.

Demographic
Age Anybody of age between 20 40 yrs.

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Income Anybody with an income of over 4 lakh p.a. Occupation Millennials employed as professionals, managers and those want to buy their first car. Social Class Middle class, Upper middle, Lower Upper and Upper uppers.

Psychographic
Personality Dreamers, those who want to achieve big, ambitious, price conscious, took their first step towards success and value driven.

Behavioral
Benefits Quality, Style, Price (economical) User status Potential users and first time users Buyer Readiness Stage Those who are aware, informed, interested and intend to buy

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10.2 Targeting

In evaluating the market segments Hyundai has looked at two factors - The segments overall attractiveness and the companies resources. As is very clearly seen Hyundai has opted for a selective specialization kind of targeting. Hyundai has selected a number of segments each objectively attractive and appropriate. There is minimal synergy among the segments but each is a cash cow. This multi segment strategy has had the effect of diversifying the firms risk.

Having Shah Rukh Khan to endorse the Santro paid off for Hyundai. Shah Rukh as a brand ambassador targets two sections of the society. Firstly, his glamorous and sophisticated image appealed to the elite effecting their purchase decisions. Secondly, his adorable persona appealed to the middle class buyers who wanted a good car for the big investment they were making and for people who were graduating from the Maruti and the second hand car.

Hyundai Santro was first launched in September 1998. At that time the cars which were prevailing in BSegment was lead by Maruti Zen. With a price tag of only Rs. 2.99 lakh Santro was targeted as the best available alternative for Zen and was described as The complete Family Car.

The low price tag of Santro initiated a price war among all companies and forced Tata Indica to pre-pone its launch. The initial low price tag and strengthened by a solid marketing initiatives in form of print advertisements provided a solid foundation for Santro in India which showed in its sales of 17000 units in

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just 5 months. With that started a journey of Santro whose sales grew at an average of 30% every year to emerge as the No. 2 car in B- Segment giving the established leader Zen sleepless nights.

Hyundai has identified its target market based on its pricing strategy. Santro aims to be the price leader in B-Segment cars. It has always priced its base model lower than Zen or Indica giving all the features which they give in their higher models. With a constant change in its positioning strategy, Hyundai Santro has succeeded in identifying its target market every time and emerging as the fastest selling car in its own segment. With the invent of Santro Xing, Hyundai is looking towards entire new segment of consumers and all set to target it to emerge as the market leader in B- Segment cars.

10.3 Positioning

Since its inception, Santro has undergone a lot of changes in terms of its positioning. First it was Santro, then Santro Zip drive, then came Santro Zip Plus and finally Santro Xing as the latest model.

When Santro was initially launched it was positioned as The Complete Family Car. Since Santro was launched in B-Segment, it had Maruti Zen and Tata Indica as its biggest competitors in that segment. The stylish Tall Boy Design of Santro together with its slogan helped it to position itself as one of the cars to look upon. With a constant change in its positioning, Hyundai always tried to keep alive the buzz associated with Santro. The Zip drive and Zip plus positioning of Santro helped to portray its position as the car which changes with time and giving its owners something extra.

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Employees Health and Safety

With the invent of Santro Xing in 2007, which came with some design changes too, Hyundai repositioned Santro as Sunshine Car (smart car for young people) from earlier complete family car. This was done because the competitors were coming out with similar products and then Hyundai started what they call as Emotional Positioning. This repositioning of Santro also helped it to target the segment of first time car buyers. Even the print ads at this time were designed in a way to project Santro as the first car for the fastest growing consumer segment of India at that time, The Young Professionals, of the service industry that combined with various loan facilities were too eager to buy their first car. This led to a phenomenonal growth in its sales and further strengthening its position as a brand in consumer mind. Thus the repositioning of Santro gave it an edge over its competitors and also to emerge as a tough rival to Maruti 800 as The First Car.

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11. SWOT ANALYSIS

Strengths

1. Brand Name: Santro has emerged as a strong brand name in recent times. Backed with the parent company Hyundai this is recognized as a strong player in worldwide automotive market, Santro has definitely a value associated with it any individual will like associatd with. 2. Large Distribution Network: With a strong dealer network of around 300 dealers al around the country, Hyundai has made its presence felt in each and every corner of India. 3. Wide Product offerings at different price points: Hyundai has launched various models in various segments and hence has a very good product mix of offerings as different price points. Starting from Rs. 2,78,999/- for Xing XK Non AC to Rs. 4,28,298/- for Xing AT (M). 4. Cheapest cars in respective segments: Hyundai has always followed an aggressive pricing policy. As a result it has its cars priced at lowest possible rates in respective segments. 5. Encouraging Exports: Backed by a strong production and a global setup at Chennai plant, Hyundai is exporting a lot. An export of worth Rs. 1,325 crores has been achieved in last six months. 6. Awarded Many Awards: Hyundai has been awarded with many awards and recognitions like The Star Company amongst unlisted companies by Business Standard this year. Its various models like Getz and Elantra too has achieved many awards, thereby increasing the brand vale of the company. 7. Economy with technology: Hyundais cars have always seen as a company producing cars blending economy with technology. Santros initiative of putting a 16-bit microprocessor on board has proved as one of the major reasons for its success and that too for the lowest price in its segment.

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Weaknesses

1. Lack of in house R & D: HMIL do not have a comprehensive R & D department in India and all the major design changes are sent by its parent company HMC. 2. New model introduction to only cosmetic changes: There is no major design changes incorporated in Santro since its inception. Only some cosmetic changes have been made. 3. Dominance mainly at lower level: HMIL dominance in Indian market is only at its lower level segments like Santro in B-Segment and Accent n C-Segment. It has to focus on its upper segment models to strengthen its position in Indian car industry.

Opportunities

1. Rise of Indian middle class and small cities: As a phenomenonal growth is seen in recent times in Indian middle class and the purchasing power of working class individuals. Also a rise in small cities across the country has given a great opportunity to Hyundai for achieving a higher growth rate in coming times. 2. A Booming Economy: Indian economy is growing at a rate of on an average of 7% every year thereby giving an opportunity of larger sales in each and every segment. 3. Rising exports: With a export of Rs. 1,325 crores in last six months, HMIL has a great opportunity of achieving a export target of Rs. 2,700 crores in this fiscal year.

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Threats

1. Many players fighting for the same cake: There a many major players in the B-Segment and since the size of market is not expanding rapidly, HMIL has a major threat in form of tough competition. 2. Entry of new players: with coming of Fial Palio and other players planning to come out with much more models in B-Segment, the competition is just getting hotter. 3. Cannibalism: to some extent the Getz is affecting Santro because of its price. Thus HMIL has to focus more on its positioning strategy of Getz and Santro.

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12. CONCLUSION

This project was conducted on marketing strategies of Hyundai motor India ltd. with focus on Hyundai santro. In this project questionnaire was prepared to know the consumer satisfaction level of respondents and the conclusion is based on the same.

Few years ago, on September 23rd 1998 the company launched Hyundai santro in the Indian market. The company was new in the market but still the company sold around 17000 units in first five months. The company has already created their market share till now and can be distincted from other brands.

From findings and analysis we can conclude that the consumers are very much satisfied from their Hyundai santro. For them Hyundai santro is not just a car but for them its a family car, that is the company has already created their emotional bindings with their consumers. As Hyundai santro is a middle segment car so its main focus is to give more fuel efficiency, and according to respondents, the company has given them what they want, that is most of the respondents are satisfied from fuel efficiency of the car. But the company also lies behind in some fields like few respondents were not happy when after a sales service is taken into account.

Success will largely be determined to the extent a company can differentiate itself in terms of intangibles that go with a car. Thus, success could well hinge on the best of bundle of services that a carmaker can provide.

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BIBLIOGRAPHY

Books: Marketing Management by Phillip Kotler Brand positioning by Subroto sengupta Positioning: The Battle for your mind by Al Ries & Jack Trout

Newspapers, Journals & Magazines Business World The Economist Economic Times Autocar India

Websites www.hyundai.co.in www.hyundai.com www.google.com www.agencyfaqs.com

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www.brandchannel.com www.superbrands.org www.marketingprofs.com www.netmba.com www.economictimes.com www.blonnet.com www.ecnomist.com www.bsmotoring.com www.autoworld.com

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