Hyundai to launch eight new cars by 2020, but is Santro coming back next year?
Speaking to reporters in Chennai on Thursday, YK Koo, MD of Hyundai Motor India Ltd, said he expects that while the industry as a whole would log a single-digit growth, his company would post double digit growth in India in 2017.autos Updated: Feb 25, 2017 11:17 IST
India’s second largest carmaker Hyundai Motor Co will launch eight new models in the next four years, top official said on Friday.
Speaking to reporters in Chennai on Thursday, YK Koo, MD of Hyundai Motor India Ltd, said he expects that while the industry as a whole would log a single-digit growth, his company would post double digit growth in India in 2017.
Koo revealed Hyundai’s plans to launch 10 products over the next four years. Of these, eight will be new models and the remaining upgrades of the existing models.
“We will expand and strengthen our product line with eight new launches equipped with new technologies out of which, three will be new segment products and five will be full model change, apart from regular product enhancements and facelifts,” he said.
The company has plans to introduce new technologies in India such as mild- and full-hybrid, automatic manual transmission and turbo petrol engine. Hyundai will showcase its Ioniq Hybrid model at the Auto Show 2018 in New Delhi and would launch select models in future.
Koo ruled out launching a tall-boy model like Santro, but said Hyundai will bring a family car in the second half of 2018, which will be positioned above its existing model Eon.
Koo said Hyundai was strong in the compact car segment that accounts for 51% of the Indian car market with its models like i10, i20 and others. According to him, Hyundai will strengthen its mid segment portfolio.
There’s another sub-four metre SUV in the pipeline which we’ll launch in the first half of 2019, the Hyundai boss said. Hyundai is still riding on the success of its 2015 SUV Creta and launched another premium family SUV Tucson in 2016.
For the Korean parent Hyundai Motor, India is key as it is the third largest market in global sales after China and the US. “We have a very strong commitment towards Indian customers,” he said.’