With an eye on the compact car market, Hyundai Motor India is mulling another small car priced below its hugely successful Santro.
“It might take another three years but we are considering it. There is no move to phase out the Santro following the amazing success of the i10, “ said Hyundai Motor India Limited (HMIL) President Ashok Jha.
Talking to the media after the inauguration of Hyundai’s second car plant at Sriperumbudur, 50 kms from here, Jha said that the company was firm about its plan to make its Chennai facility a global hub for compact cars. “That is one reason we do not look at a car merely on the price point,” he said. Jha said that the company would first view the market’s reactions to the Nano before exploring its options.
Hyundai sources, however, indicated that the sub-Santro could hit he market by 2010 with a1100 cc engine. Jha pointed out that compact car segment accounted for 74 per cent, in which Hyundai’s share was 32 per cent.
“Our aim is to increase our market share in this segment which grew by 20 per cent against the overall growth of 15 per cent for the car industry. One third of the compact car sales are repeat purchases,” he added.