The passenger car market may be in the doldrums but Hyundai Motor India is going ahead with product upgrades and new launches.
‘Public car’ will be pegged below the Santro, will be high on mileage
NEW DELHI: The passenger car market may be in the doldrums but Hyundai Motor India is going ahead with product upgrades and new launches.
Over the next few months, Hyundai is bringing a new, more powerful variant of the ‘i10’, launching LPG dual fuel variants of Santro and Accent (also Getz later) besides a CNG variant of the Accent and will eventually bring in a low-priced “public car”.
Managing director H S Lheem acknowledged the company has begun working on a low-cost car which should be launched in 2011-12.
“There is no immediate fight against the Nano or the low-cost Bajaj car; we will bring a car which is low on cost, high on fuel efficiency and can be pegged below the Santro (which is Hyundai’s entry level offering)”.
Lheem said that though this car is being developed with the Indian market in mind, it would also be sold in other markets across Asia and South America.
Research and development on the public car is being done jointly by Indian and South Korean engineers.
On the new ‘i10’ variant, Lheem said that Hyundai’s new, 3.2 lakh units per year engine and transmission facility at Chennai would commence operations with a 1.2 litre, 85-90 bhp petrol engine. This engine would be strapped on to the ‘i10’ to give it more power and the new i10 should be available in the market by August this year.
The engine and transmission facility at Chennai is part of Hyundai’s Rs 12,000 crore investment till 2013 and is expected to also make diesel engines and transmissions some time later. Hyundai has already indicated that the diesel version of i10 would hit the market before this year ends.
The new engine is from the ‘Kaap’ series. Though the more powerful ‘i10’ would also cost more, Lheem did not divulge the price difference, asserting that the new and old variants would both continue to be available.
Asserting that despite the prevalent market conditions his company would achieve the export target, he said that over two lakh vehicles would be exported this calendar year.
But is Hyundai planning a facelift of the Santro?
Since the launch of the trendy ‘i10’ last October, the company has seen a shift in consumer preference towards the new model.
In its projections for this year, Santro sales are already down to merely one lakh units against 2.3 lakh of the ‘i10’.
Speaking on the issue earlier, Lheem had said “we realise the necessity for some change in the Santro and are working on it but I have no date for a facelift in mind yet. Ideally, every existing model should get a facelift once in four years”.
Company officials said today that though Santro numbers have dwindled compared to the ‘i10’, it still accounts for 45% of all hatchback sales for Hyundai.
b_sindhu@dnaindia.net
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}