Hyundai will be launching the ix25 compact SUV later this year followed by the IP MPV in 2017 while the XUV500 rivaling ix35 will make it to the Indian market by 2018.
The Utility Vehicle (UV) space is one of the fastest growing segments in the country that accounts for an overall 21 percent market share. With the segment boasting of a promising future, Hyundai India wants to tap on the potential growth and recently launched the i20 Active, the first of its many UVs that will hit the market in the coming years. Now, a report suggests that the Korean manufacturer will launch five UVs in India including the IP MPV and ix35 SUV.
With the i20 Active on sale, Hyundai India will bring the ix25 compact SUV (codenamed GS) in the second half of this year to rival the Renault Duster, Nissan Terrano and the likes. The ix25 will be followed by the IP (codename) MPV in 2017 that will be rivaling the Honda Mobilio, Renault Lodgy (launched today) and the Maruti Ertiga in the segment. In addition, the manufacturer is also contemplating to launch the ix35/Tucson in the country to compete against the Mahindra XUV500 and could bring the model by 2018. This will be followed by the new generation Santa Fe competing in the premium SUV space.
With the proposed lineup, Hyundai will have a UV in its stable right from Rs. 6.5 lakhs going up to Rs. 25 lakhs, thereby offering something for everyone. The automaker’s short term goals include increasing its market share by one percent every year and is aiming to sell at least half a million units every year in the country and is also planning to capture a share of 20 percent in the Indian car market from the current 16 percent. The onslaught of UVs will be a major growth provider for the company in the next half of the decade.
Source – EconomicTimes.com