Coming soon from Hyundai: compact SUV, sedan based on i10 Grand
Close on the heels of its new small car, the Grand i10, Korean auto major Hyundai Motor India Ltd (HMIL) has said it is developing a compact sedan based on the small car, to be launched next April. Sumant Banerji reports.india Updated: Sep 09, 2013 03:47 IST
Close on the heels of its new small car, the Grand i10, Korean auto major Hyundai Motor India Ltd (HMIL) has said it is developing a compact sedan based on the small car, to be launched next April. The car would compete with the likes of Maruti’s long-time bestseller Swift Dzire and Honda’s recent success, the Amaze. A compact SUV is also in the works.
“We are developing a compact sedan based on the Grand i10,” said Cha Rukh Han, senior executive director, HMIL. “It will be launched by March-April next. We are also developing a compact SUV to compete with Renault Duster and Ford EcoSport.”
HMIL does not have any product in the entry-level sedan space after it phased out the Accent earlier this year.
The passenger car industry has been sliding in recent times, withsales growing a little over 2% in 2011-12 and declining by about 7% in 2012-13. This fiscal so far, the decline has risen to nearly 10%.
The compact sedan and SUV segments have however seen decent growth this year. Sedans with less than 4 metres length attract lower excise duty than full-sized sedans, making them more affordable and practical — one reason why they are in demand even in a depressed market.