Hyundai Motor India will increase prices of its newly-launched i10 by up to Rs 5,000 from January 12 and would introduce a LPG driven version of its bread-and-butter car Santro in the country in 2008.
The i10 prices start at Rs 3,39,000 to Rs 4.95 lakh for the top-end model.
Hyundai also showcased its concept cars – Veloster and QarmaQ at the expo.
The carmaker also announced plans to foray into the commercial vehicle segment.
"The car will hit the roads by the third quarter of the current calendar year. We will announce the price once the car is out in the market," said the company's managing director and chief executive officer Heung Soo Lheem in New Delhi.
About the rationale behind the launching of Santro's LPG version, Lheem said "With rising crude oil prices, Santro LPG will provide a more economical option for our customers along with environment-friendly benefits."
Regarding Hyundai's plans to venture into the commercial vehicle segment, Lheem said, "We are very close to taking a decision for a local partner and have short listed two. We will provide these bus body makers the raw chassis and have the buses developed locally. We will start with smaller 22 seater buses (mainly for city transport) and then move on to the bigger ones."
Lheem said the company has set an export target of 2,65,000 cars for this year. "We have identified new markets in the Middle East, Australia, South Africa and Canada," he said.
He said Hyundai has no intention to fight against Tata Nano, the Rs 1 lakh car from Tata Motors.
Also on display was Avante, the replacement Elantra, Hyundai's offering from the premium stable. Lheem said the car will be manufactured in its Chennai facility and will be different from Elantra, which is being phased out.
It will also bring in Santa Fe, Hyundai's sports utility vehicle, to India. "We are currently examining the feasibility for introducing the SUV in the Indian market," he said.
Lheem said Hyundai would launch two car models, from its stable every year.