In order to replicate its success with small cars in the premium segment, Korean automotive major Hyundai Motor India Ltd on Monday launched its 5th generation Elantra with a price tag of Rs 12.5-14.7 lakh for the petrol variant and Rs 12.9-15.9 lakh for the diesel version.
Largely seen as an established small car manufacturer, this is Hyundai’s second attempt at cracking the premium segment after the launch of the new Sonata earlier this year.
“The new Elantra was launched in the US in 2011 and it has received overwhelming response worldwide. We are confident that in India also it’ll be a success,” said BS Seo, managing director and CEO, HMIL.
The Elantra competes with the likes of Toyota Corolla Altis, Chevrolet Cruze, Skoda Laura, Volkswagen Jetta and Honda Civic. The company said lack of newer models in this segment would help its cause.
“The last new car launched in this segment was back in 2009,” said Nalin Kapoor, senior general manager, HMIL. “Hence this segment has been sluggish with around 2800 sales per month. We believe the new car will bring incremental volumes for us.”