Hyundai likely to price its 800cc small car @ Rs 1.6 lakh

Hyundai Motors India Ltd., (HMIL), one of the largest car makers in the country which is developing a compact-car for the Indian market, is speculated to be priced at Rs 1.6 lakh, as revealed by some media reports on Friday. The new small car is currently under development at the company's R&D center at Hyderabad where it's engineers are working in tandem with their South Korean counterparts.

The new Hyundai baby is expected to come, powered with a 800 CC engine and will compete against India's best-selling car Maruti Alto after it is launched in the country. The company will showcase this car at the upcoming International Auto Expo in India in the year 2012 , where it is expected to attract a large number of car enthusiasts and visitors.




The car will be developed on a completely new platform though some designing cues could be borrowed from Hyundai's popular small hatchback Santro Xing. Besides this, the company is also reviewing the relaunch of the Elantra in the country which will be subject to the growth in the market size of the premium segment, as per a statement given by Mr Y K Koo, Senior Director of the company. However, the timeline of the launch of this vehicle in the Indian market is yet to be revealed by the the South Korean auto giant.

Hyundai India is aiming to achieve the sales mark of 600,000 units in the calender year 2010 as against the 5.6 lakh units sold in the same period, last year. HMIL's market share was 20.6 percent in the year 2009 and it will go up by 0.1 percent this year, said Mr Hyundai Motors India Limited managing director and chief executive H.W. Park. He said so at the launching ceremony of the new Hyundai Verna Transform in India.

Source:- Hyundai likely to price its 800cc small car @ Rs 1.6 lakh - New Cars