Hyundai intends to make micro SUV in India

Tinuku - Hyundai Motor India Ltd, the second largest carmaker in India, may introduce a micro sports utility vehicle (SUV) to consolidate its position and increase market share. Hyundai, which makes Creta, SantaFe and Tucson is planning to add more products, specifically under the sub four-metre category.

“We have a small SUV Creta, may be later, we may have a micro SUV also. We will have a very strong SUV line-up,” Y.K. Koo, managing director, Hyundai Motor India said at its Chennai factory.

Tinuku Hyundai intends to make micro SUV in India

“We will increase our product portfolio in the SUV segment and with Creta, we have tasted success as in the segment as well, as we continue to sell almost 10,000 units every month, which is great given the price point at which the vehicle is available,” added Koo.

Creta launched in 2015, now sells 8,000-10,000 units a month. Both Creta and Maruti Suzuki India Ltd’s Vitara Brezza have together displaced Mahindra & Mahindra as India’s leading utility vehicle manufacturer. Hyundai will focus on the compact segment with the launch of a small hatchback, while another product probably a compact SUV will be launched in the next financial year.

Koo said the company will target a leadership position in the compact segment with the upcoming products. The South Korean manufacturer currently has a capacity utilization of 99% and plans to look at a new capacity after 2020 by when the safety norms and emission norms will be introduced.

Exports from India in the form of completely-built units has come down significantly and will continue to decline since most countries are trying to promote vehicle imports in the form of completely or semi knocked down units. That will free up a lot of space for the Korean manufacturer.

Comments