In order to increase market share, Hyundai is planning to launch a series of new products in the Indian car market. The company has recently launched the new generation Elite i20, and is now aiming to enter into the two growing segments- compact SUV and MPV segments. If media reports are to be believed, Hyundai will launch a compact SUV in 2015 and compact multi-purpose vehicle in 2015-16.
The recently launched Elite i20 has received a strong response from buyers and its compact sedan Xcent also recorded strong sales. Now, the manufacturer is aiming to capitalize on the strong festive mood of the Indian buyers. Speaking to PTI, Rakesh Srivastava (HMIL Vice President Sales & Marketing) said, “From this year we have started entering segment where we are not present. We will continue to do this in the coming years to enter segments where we are not present currently”.
It is expected that Hyundai will launch the ix25 compact SUV in India; however, we strongly believe that the company will introduce a compact SUV based on Grand i10 platform. Moreover, a compact MPV on the same platform is also in works. The ix25 will go on sale in China on October 9 and it will compete against the likes of Renault Duster, Ford EcoSport and others. The compact MPV will be pitched against the likes of Honda Mobilio, Maruti Suzuki Ertiga and Chevrolet Enjoy.