The Indian wing of South Korean auto maker Hyundai is upping the ante in the passenger car segment in order to topple Maruti Suzuki from the helm. According to sources, the company is revising its future plans to chart its course in the country. Over the next two years, Hyundai will try to fill in the gap left in its portfolio, by first introducing a compact sedan in 2014 which will be then followed by the launch of a mini Sports Utility Vehicle (SUV) in 2015.
As claimed by sources, South Korean major Hyundai is developing a new mini-SUV that will be pitted against the Renault Duster and Ford EcoSport. Industry experts believe that the overwhelming response meted out compact SUVs in India has garnered the attention of Hyundai. Now with the company planning to launch a mini-SUV by 2015, it will further seek to tap into the potential of highly rewarding segment.
It is being said that the compact SUV of Hyundai will be made on the same lines of Santa Fe SUV but the platform will be altogether different. As far the pricing of the car is concerned, Hyundai might pin the upcoming compact SUV from Rs. 8 lakh to Rs. 12 lakh, to offer direct competition with the models of other auto makers. On asked about this development, a company official was quoted as saying "The mini-SUV segment has emerged as a powerful growth-driver in India. In the depressed market, it is the only segment that has shown growth. Unfortunately, we don't have a competing product. That is being addressed. A compact SUV is taking shape at the Hyundai design studio."
Apart from an mini-SUV, Hyundai India will be offering a new compact sedan in India by 2014. Sources even claim that Hyundai India is testing mules of its upcoming sedan in India that will be launched much ahead than the anticipated compact SUV. The car is believed to be under testing standards of Hyundai and shall be taking cues from recently launched Grand i10 model.
As stated by a Hyundai official the upcoming sedan shall carry distinctive looks as compared to Grand i10 and it will not be a mere addition of a boot to the Grand i10. He further added "The sedan will sport Hyundai's fluidic design. The diesel engine will be more powerful." It is believed that the diesel variant of upcoming car model might get the Grand i10 based saloon in a 1.4-litre CRDi option as opposed to the 1.1-litre motor of Grand i10.
Auto analysts believe that Hyundai have been late in recognising the potential of entry-level sedan and its rivals like Honda and Maruti Suzuki have been successful in establishing their cars, which have gone well with the Indian car consumers. For Hyundai, the launch of an entry-level sedan add more armour to company's portfolio but it will take a considerable amount of time for Hyundai to capture a sizeable market share. The upcoming sedan of Hyundai shall share its rivalry with already established cars like Maruti Suzuki Swift DZire and Honda Amaze, which have contributed immensely to their respective companies revenues.
As far the entry-level sedan segment is concerned, Hyundai is feeling the heat with the absence of any car in this duly rewarding segment. Its Accent model was recently discontinued and since then the void has been addressed.
