Small car market readies for 10 new models, variants
Apart from new models of Hyundai i10 and i20, the Korean carmaker is expected to unveil the much-awaited 1.1-litre diesel i10. The company is investing $300 million in Tamil Nadu in a plant which will also build diesel engines. Hyundai will run into competition from Tata Motors, which is readying an 800-cc diesel Nano. The company, which recently overhauled its top management and hired ex-General Motors India chief Karl Slym as its new MD, is aiming to unseat Hyundai from the No.2 spot in India.
Meanwhile, market leader Maruti Suzuki has lined up one model. The company is planning to replace the Zen Estilo with a brand-new car, codenamed YL7. The Swift, Ritz and Alto were updated last year and the next revision is still a few years away.
Even as rising aspirations and income levels boost compact UVs and entry-level sedans, companies are focussed on small cars measuring less than 4 metres and priced at R2.5-6 lakh, thanks to large volumes and the cost-efficient vendor base.
“Companies are looking to expand their portfolio in the core of the market and add diesel options. Also, product life cycles for some like Hyundai are coming to an end; so, they are replacing older models with new ones. This is also
Be the first to comment.