Hyundai Confirms its Low Cost Small Car Project

Wednesday 21 May 2008, 00:00 AM by Satish

Hyundai Motor India today confirmed that it shall also be developing a low cost small car for in India. It shall be on the Indian roads by the year 2012. The car shall be priced at $3500 but shall not compete with Tata Nano instead it shall be pitted against the new car being developed by Nissan-Renault in alliance with Bajaj.

Tata has led to emergence a totally new car segment in India for ultra-small and ultra cheap cars after introducing its latest model Tata Nano earlier this year.

President of Hyundai Motor India, HS Lheem, earlier told Reuters at the Geneva Motor Show 2008, that Hyundai shall soon be developing a small car for the Indian and Chinese markets. It already has several small cars in India like Santro and i10 that sell at $6150 and $7710 respectively in India.

Hyundai has already shifted its small car manufacturing operations to India and has made India as its exports hub for small cars. India shall witness launch of some good ultra-cheap car models in the country that would cater to the middle class segment.