Hyundai India, the largest car exporter from the Indian market, said on Thursday that it may come-out with an upgraded version of its Elantra model in India. It should be mentioned here that Hyundai Elantra model was discontinued from the Indian market in the year 2007 due to the continuous slow down in its sales in the country at that time. The model was pitched in the highly competitive segment against some of the best selling cars of this segment like Toyota Corolla, Honda Civic, Skoda Octavia.
Besides this, the company is also planning to launch its premium SUV Hyundai Santa Fe in the Indian market with a price tag of Rs 20 to 22 lakh.
The company is 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 company. The premium segment market in which Elantra fits in is just 3 per cent of total market size of cars in the country, but this market is growing, added Mr Koo.
Mr koo further added that the whole auto industry grew by 27 per cent in January-May but Hyundai India posted growth of 31 per cent.
Hyundai India has recently rolled-out its latest Verna Transform in the Indian market with an aim of taking its monthly sales to 2000 units from existing 1500 units a month. Hyundai Motors has infused about Rs 70 crore in the development of the new Verna Transform.
Source:- Hyundai Santa Fe to be launched in India by Oct 2010 - New Cars
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