Posted Tue, 06/21/2011 - 17:07 by CarDekho Team
According to latest information from Indian car market, the South Korean car manufacturer Hyundai Motors is planning to bring new small car with a price tag of Rs. 2 lakh on Indian roads. Expected to release in second half of 2011, Hyundai’s new small car will be another entry of Hyundai India in small car segment.
As earlier reports suggests, with Indian small car market already getting geared-up for new entries from Chevrolet, Tata and Bajaj-Renault-Nissan, this latest move from Hyundai India is going to further heat up the competition between the cars, which are already present in the segment. As per relevant sources, the new small car from Hyundai is most likely to adorn an 800 cc engine, which is currently being developed in Korea. Hyundai company official said that the company is currently developing a petrol car with a price tag under Rs. 2 lakh.
However, it is said that Hyundai India is eyeing on surpassing the India’s popular small car i.e. Maruti 800. As for now Maruti 800 MPI BS III, added with air conditioning, is priced at Rs 2,16,475 (ex-showroom Kolkata ), while the Hyundai Santro, which is the Hyundai’s cheapest car in India, costs Rs 2,71,331 (ex-showroom Kolkata).If reports are believed, Hyundai i10 is company’s highest selling car and Hyundai is now seeking its presence in highly prospective segment of small cars. Furthermore, Nissan is also working with Renault and Bajaj for drafting, developing and manufacturing an ultra low-cost car for India. This small car is said to compete with Tata Nano which is currently the cheapest car in India.
Adding to reports, with re-touched new Hyundai Santro already in-line for launch in December this year, Hyundai India will be stopping the manufacturing of Old Hyundai Santro Xing. Sources further told that low sales figure is the most likely reason behind Hyundai’s move.