Hyundai is cruising well in the Indian market selling decent volumes and enjoying a market share of 19.8 percent. But the automaker’s product portfolio in India is lacking some crucial segment cars, which the rivals are cashing in on the opportunity of rapidly increasing compact SUV and MUV demand. Hyundai is now considering launching a new compact SUV next year and a new multi-utility vehicle in 2015. Both the SUV and the MUV are being developed at Hyundai’s Namyang centre in Korea and are likely to be built on the same platform, which will help the automaker to keep the costs low.
Hyundai’s upcoming compact SUV and multi-utility vehicle are being designed, keeping in mind the Indian customer preferences and the inputs are being provided by the centre based in Hyderabad. The compact SUV under works will compete with the likes of the Renault Duster and the soon to be launched Ford EcoSport. Hyundai will offer both diesel and petrol engine options with the compact SUV. The automaker hopes that the introduction of the compact SUV in the Indian market will help lift their fortunes by increasing their market share significantly.
The multi-utility vehicle in talks for a 2015 launch is a six-seater MPV, which will compete head-on with the Maruti Ertiga, which is currently the segment leader. Apart from the two developments, Hyundai will be launching the next generation i10 featuring a new compact 1.1-litre diesel engine produced at its new plant in Chennai. The upcoming hatchback will take on the Maruti Suzuki Swift. For full grown SUV segment, Hyundai will launch the next generation Santa Fe sculpted with the latest fluidic design philosophy, which will replace the current slow selling model.
Source – The Hindu Business Line