Hyundai Motor India (HMI) will shift its focus to “SUV style vehicles and sedans” as small entry-level cars are low in demand. The reason behind changes in the business strategy are said to be the changing market dynamics, consumers’ preferences and high cost of environment and safety regulations. The company has already discontinued the Santro hatchback that re-entered to the market in 1998.
Speaking to a media publication, Tarun Garg, Director of Sales, Marketing, Service, Hyundai Motor India said that customers are evolving, they want technology and feature-rich cars. Therefore, the company will move with its customers. These days, the first time buyers prefer compact SUVs over hatchbacks. The South Korean automaker sold over 300,000 units of the Hyundai Venue subcompact SUV in India, since its launch in May 2019.
Recently, the company rolled out its updated version with noticeable design changes and feature upgrades. Garg has revealed that the new 2022 Hyundai Venue diesel has been witnessing strong demand with around 35 percent bookings of the total orders. In India, around 37 percent Venue customers are first time buyers and nearly 41 percent of Hyundai’s sales is from models cost above Rs 10 lakh.
In coming months, Hyundai India will bring in the updated version of the Kona EV, Creta facelift and new-generation Tucson. The new Hyundai Kona EV facelift is also slated to launch this year. The carmaker has confirmed that it will launch its second electric car in India – the Hyundai Ioniq 5. The electric sedan will be positioned as a flagship EV in the company’s Indian product portfolio.
Besides this, the South Korean carmaker is reported to bring in a compact MPV to challenge the Maruti Suzuki Ertiga and Kia Carens. It could be the Hyundai Stargazer MPV that will make its world debut at the 2022 Gaikindo Indonesia International Auto Show.
