Fasten your seat belts as the war seems to begin this year. Being in the race, All car manufactures companies want to capture the big market of small segment hatchbacks in India. Sources said that, with the launch of CERVO, the biggest car manufacturer company of India want to stay first in small segment car, while Hyundai Motor India Limited (HMIL) is all set to launch a number of car models across all segments just to retain its market share. But company’s main focus is on small car. The car will be smaller than Santro and is likely to be launched by the end of this year.
The Korean car maker is looking at two new launches each year till 2015 and the target is to achieve the market share of 20 percent. As per the company’s strategy, HMIL will focus on the domestic market for this year.
Talking to the AutomobilesNext, on the launch of Verna Fluidic, Arvind Saxena, director, marketing and sales. HMIL, said they are now working on launching a mini car of 800 cc capacity. “Since the small car segment is the largest growing segment in India, we have decided to come up with a small car as volumes lies in this segment. This will be launched by the end of this year,” he said, adding that new models will be launched across all categories.
Engine:
0.8L, three cylinder Engine
Price:
Rs. 2.25 Lakh to 2.75 Lakh
Although he never disclosed the price, it is expected that it will be something around the prices of Maruti Cervo i.e. almost 2.25 Lakh to 2.75 Lakh (Ex showroom price, Delhi). The company has so far invested over Rs 8,000 crore in India. It is currently putting in Rs 400 crore to set up a diesel engine plant here.
“We have the capacity to produce 6.60- 6.70 lakh units per annum. But as we grow, we will be enhancing our production capacities,” said Saxena. About exports, he said of the 6.03 lakh units produced in India last year, 2.47 lakh units were exported, with i10 being the frontrunner. He said rising fuel prices and interest rates on the auto loans could play a spoilsport for the company in the domestic market as well.
