 NEW DELHI: Hyundai is all set to launch an all-new compact car by the year-end with petrol and diesel engine options, fuelling new competition in the small car segment at a time when it faces heat from Maruti Suzuki and other rival brands. The Korean car major, that has seen sales of key volume models like Santro and i10 decline, wants to have a fresh approach in the mini car segment which accounts for a majority of sales in the Indian car market. "A new small car model will be out by the end of this year and will be positioned around the existing i10 model. It will compete against models like Maruti Swift, Ford Figo, Chevrolet Sail and VW Polo," sources in the company told TOI. The sources said the new model will be placed below Hyundai's premium compact i20. "The idea is to have a car between the i10 and i20. And since this will also have a diesel engine option, it will certainly be a more lucrative option than the existing i10," the sources said. When contacted, a top official from Hyundai confirmed that the company plans to launch one-two cars every year, though declining to speak on a specific product launch. "As a corporate policy, we do not comment on future models. As a leading player, we continuously analyze the current and emerging segments based on the customer requirements to launch future models," Rakesh Srivastava, VP (sales & marketing) at Hyundai India said. The sources said Hyundai's new small car will carry its trademark fluidic design, which is now seen across its product line-up in India, except for the Santro and the i10. Hyundai has adopted the fluidic design concept as its mainstay globally and has been adding it to its existing line-up. The new generation Verna sedan came out with the fluidic design in 2011, and so did the new i20 compact last year. "The company feels that the new design will be more appealing to younger customers and will hold more potential among urban buyers," a source said. The source added that the entry of the new model could mean a lower focus on models like the i10 and even the Santro. However, there are no plans of an immediate phase-out and the i10 may see a makeover soon, the source said. Srivastava also ruled out any plans to phase out the i10. "With over 12 lakh worldwide customers, the i10 has established itself as a well-accepted and appreciated brand. We will continue to sell the car to Indian customers in the future... (and) have no plans to phase out the i10 from our portfolio." However, volumes of the petrol-only model have been slipping, especially after the market shifted rapidly towards diesel variants. Sales of the i10 fell 29% last year and the model could sell only 98,702 units against 1,38,466 units in 2011. The model, which was India's third largest-selling passenger vehicle in 2011, finished at the 6th position last year, according to numbers provided by industry body Siam.  via Technology - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEZzTxZ3kYtryetsbyrUsqMP0HLWQ&url=http://timesofindia.indiatimes.com/business/india-business/Hyundai-to-drive-in-new-compact/articleshow/18265872.cms | |||
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Wednesday, 30 January 2013
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