The Telegraph
Tuesday , August 19 , 2014
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Hyundai charts new strategy

Srivastava: Fresh road map

Calcutta, Aug. 18: Hyundai Motor India Ltd (HMIL) plans to strengthen its product portfolio by bringing in models in segments where it does not have a presence.

“The company will roll out one completely new product in every segment we are not present in the next two years apart from refurbishing and facelifting existing products,” said Rakesh Srivastava, senior vice-president and division head, marketing and sales division, while unveiling the Elite i20 here today.

The petrol version of the Elite i20 will be priced between Rs 5.05 lakh and Rs 6.66 lakh (ex-showroom Calcutta), while the diesel variant will cost between Rs 6.26 lakh and Rs 7.88 lakh.

On the company’s product portfolio, Srivastava said, “We are currently looking at the compact SUV and the MPV segments very closely. We have the technological competence and know-how as our parent company has global products in these segments,” Srivastava said.

However, he ruled out bringing in any of the global models. “We are looking at an India-specific product suited to the Indian conditions and market. We have launched four products in the last 10 months from September 2013 to August 2014. This includes the i10 Grand, the Santa Fe, the Xcent and the i20 Elite. All of them are India-specific cars that will also be marketed globally. This shows our commitment to the Indian market,” he added.

Hyundai does not have a presence in the MPV (multi-purpose vehicle) segment and has been selling the Santa Fe SUV as a completely-built unit. “We launched the new Santa Fe in the Delhi auto expo in February. Since then, we have sold 1,200 units, which is a fair number for a vehicle that is priced at Rs 30 lakh and above,” Srivastava said.

The company is well-represented in the hatchback segment by the Eon, the Santro, the i10, the i10 Grand and the Elite i20. In the sedan segment, it has the compact sedan Xcent, the Verna, the Elantra and the Sonata.

After selling 3,80,000 cars in 2013, Hyundai India is looking to touch the four-lakh figure this year.

“It’s our aspiration to sell 4 lakh cars in a calender year and we will be looking towards fulfilling this by the end of this year,” he said.