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India’s largest car maker Maruti Suzuki India Ltd has an unlikely admirer —its fiercest rival Hyundai Motor India Ltd.
The continued dominance of Maruti, which controls 48% of the Indian passenger vehicle market, has led Hyundai India chief Y.K. Koo to declare that the South Korean car maker cannot compete with the market leader, especially given the way Maruti has been ramping up operations.
“I think No. 1 or No. 2 is not our priority. But, volume-wise, Maruti is definitely No. 1 because they have 1.7 million units and we are at 7 lakh (700,000). So, volume-wise and factory-wise, we cannot compete; we cannot overtake,” Koo said on the sidelines of the launch of Hyundai Motor India’s next-generation mid-sized sedan Verna that goes on sale at a starting price of Rs7.99 lakh (ex-showroom, Delhi). The Verna, he added, will lead a segment which already has the likes of Maruti’s Ciaz and Honda Cars India Ltd’s City.
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