Hyundai India has plans to launch four new models including a compact SUV to strengthen its market position, in the next two years. The auto maker is also planning to introduce - a sub-four metre sedan, to compete Maruti DZire and Honda Amaze.
Hyundai Motor India Ltd., Managing Director and CEO Bo Shin Seo commented, "Compact SUV is a very lucrative segment India. I think we are a bit late but we are developing a compact SUV to be launched soon."
When asked about the four-metre sedan, Mr. Seo declined to share more information. The entry level sedan is likely to launch between 2014 and 2015.
The company is also looking into the MPV segment, where Maruti Ertiga has achieved success. Mr. Seo told, "The MPV segment is also fast growing, we are definitely looking at it but our priority will be the compact SUV."
The upcoming compact car is likely to be placed between Hyundai i10 and i20. He further added, "Apart from the domestic market, we will be exporting it. We expect it to be our largest selling model."
Hyundai cars in India are quite popular. The i10 model is Hyundai’s best selling model with sales figure reaching 1.6 lakh units last fiscal year. The company is the second largest auto maker in India and sold 3.8 lakh units in domestic market and 2.5 lakh units exported in 2012.