Bo Shin Seo in New Delhi on Tuesday. Picture by Yasir Iqbal
New Delhi, Feb. 4: India’s No. 2 car maker Hyundai Motors India Limited today unveiled its compact sedan Xcent, which will be available for sale next month.
“The Xcent is a world class product developed for India,” said Bo Shin Seo, Hyundai Motor India Ltd managing director and CEO.
Hyundai did not disclose Xcent’s price or its engine configuration. However, company officials said the car, which will rival the Honda Amaze and the Maruti Suzuki DZire, would be the most competitively priced sedan and “take the market by surprise”.
The Xcent is a variant of the company’s now shelved Accent; analysts said the car is the sedan version of Hyundai’s i10 Grand.
Hopes are high within the company that with the new model, it will be able to reverse the fall in sales last year. Hyundai had sold 6.3 lakh units in 2013, a decline of 1.2 per cent in sales.
“With the Xcent, we are entering one of the fastest growing segments in the Indian car market. Last year, the compact sedan segment grew 39 per cent at about 24,000 units a month. We want to be a significant player in this segment,” Hyundai Motors senior vice-president Rakesh Srivastava said.
Xcent will be available in two engine options — petrol and diesel — in both manual and automatic models.
Hyundai is also expected to enter the compact sports utility vehicle (SUV) segment later this year.
Company officials said they were studying the market and would soon come out with a series of products.
“We would also be showing our new version of Santa Fe SUV at the auto expo to be held between February 5 and 11,” said Srivastava.
He said the company would assess the demand for its cars this year before deciding on raising capacity. Hyundai has capacity of 6.75 lakh units annually.
Jaguar Land Rover (JLR) today showcased its line-up of sports, crossover and sports utility vehicles, which will debut at the auto expo.
The line-up includes Jaguar C-X17 Crossover Concept and Project 7, a single-seater, all-aluminum bodied roadster.