Just about everybody wants to bring out a compact SUV to cash in on one of the fastest growing segments in India. Hyundai, one of the larger carmakers in India, was conspicuous by its absence, but now it is hurrying up plans for three new vehicles in India – a compact SUV, an MPV and a small car to slot in between the Hyundai i10 and Hyundai i20.
A report in the Times of India quotes Hyundai managing director & CEO Bo Shin Seo saying that the company is planning to launch a small SUV soon followed by an MPV. This compact SUV will compete with the likes of the Renault Duster and upcoming Ford EcoSport, in a segment that is seeing good demand and long waiting lists. Mahindra is developing a new compact SUV to rival these as well, the S101. Also read: Five upcoming Hyundai cars in India
The MPV segment too has been seeing steady demand with the Toyota Innova and Maruti Ertiga, and GM is planning to launch the Chevrolet Enjoy in this segment. Hyundai plans to get into this segment too. It showcased the Hyundai Hexaspace MPV with flexible seating arrangements at the Auto Expo in 2012. It will be launching an MPV to compete with the Toyota Innova and Maruti Ertiga, although it isn’t clear if the Hexaspace MPV would be the final product it plans to bring in.
Later this year, Hyundai will be launching a new small car – a hatchback – that will be slotted in between the Hyundai i10 and the Hyundai i20. This new car is supposedly going to create a new segment in itself. It will be bigger than the present i10, but smaller than the i20. Also read: Can Ertiga, Duster and EcoSport upset mid-size car sales?
Meanwhile, the new Hyundai i10 has been spotted testing and would also come in with a diesel engine. Hyundai has invested about Rs. 1,500 crore in its new engine plant in Chennai, which will produce about 300,000 engines a year, both in petrol and diesel . This plant will churn out diesel engines of 1.1 litre, 1.4 litre and 1.6 litre capacity – which will go into the Hyundai i10, Hyundai i20 and Hyundai Verna. Currently, Hyundai imports its diesel engines from South Korea, which is why the diesel i20 and Verna are expensive.
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Source: Times of India