Korean auto major Hyundai Motor India Ltd on Monday launched the premium compact car i20. The car priced at Rs 4.80-5.82 lakh (ex-showroom in Delhi) has the same 1.2 litre Kappa engine that powers the i10.
The car was first showcased at the Paris Motor Show in October and is already being exported to Europe. In India, it competes with the likes of Maruti Suzuki’s Swift and Chevrolet’s Aveo U-VA. Tough market conditions forced the company to set a conservative sales target of 20,000 units per annum for the car. Its flagship Santro sells more than 1,00,000 units per annum.
“We have an ambitious target for next year but they will be finalised only when we are through with the first quarter of 2009,” said HS Lheem, managing director, HMIL.