Hyundai Motor India Limited, the country's second largest passenger car maker, has devised an aggressive strategy to take on its rival companies by revealing intentions to roll out four new models in the country. Over the next two years, the South Korean auto maker would introduce a compact hatchback, an entry level sedan, a compact Sports Utility Vehicle (SUV) and a Multi Purpose Vehicle (MPV) in the domestic car market. The new models would help Hyundai in attracting more Indian buyers, thereby consolidating an improved share in the auto market.
At present, Hyundai Motor India is second behind Maruti Suzuki in the country, in terms of market share in the passenger car segment. The company would introduce a compact hatchback, codenamed BA sometime around this year's festive season. The Hyundai BA is expected to be sitting between the i10 and i20 models, in terms of size and pricing. Industry experts have pegged the BA hatchback to be a direct rival against the likes of Maruti Suzuki Swift, Volkswagen Polo and Ford Figo in the country.
Amongst the South Korean auto maker's upcoming new cars, the compact SUV seems to be the most interesting one. The company is looking at entering the immensely lucrative mini utility vehicle segment and would take on the likes of Renault Duster, Mahindra Quanto and the soon-to-be launched Ford EcoSport in the country. The compact SUV class of vehicles represent the face of fastest growing segment of Indian auto sector. Therefore, it seems like Hyundai is making all the right moves for consolidating a bigger share in the domestic auto market. At present, the company has just one utility vehicle offering in its Indian product portfolio- the premium SUV Sante Fe, and is missing out on sales witnessed by this segment.
Hyundai's other new models are believed to be an entry level sedan and an MUV. The entry level sedan is expected to be based on the HB20S car introduced by the company in Brazil recently. This affordable sedan is expected to share platform with the i20 premium hatchback and would compete against Maruti Suzuki Swift DZire, Honda Amaze, Chevrolet Sail and Ford Classic models in the Indian auto market. The South Korean auto maker is also developing a MUV that would conform to all the needs and requirements of the domestic audience. This model is to be pitched against the likes of Maruti Suzuki Ertiga, newly launched Chevrolet Enjoy and Nissan Evalia in the MUV segment. The company's rival car makers like Maruti Suzuki, Renault and Mahindra are doing well in the mini utility vehicle segment, which explains Hyundai's desperate efforts to introduce its own models in this category.