Hyundai Motors India Limited is ready to introduce its sedan model Elantra in India once again. It has phased out this model in 2007 owing to low sales volumes. "We are reviewing the relaunch of our Elantra in the country which will be subject to the growth in the market size of the premium segment," company's Senior Director Y K Koo said. However, he did not specify the timeline of the launch. The premium sedan model Hyundai Elantra will be priced between Rs. 20-22 lakh and will compete with Toyota Corolla, Honda Civic and Skoda Octavia. "The market for premium segment in which Elantra fits in is just 3 per cent of total market size of cars in the country. But this market is growing," Koo said.
Hyundai will also introduce its SUV Santa Fe by October this year. It attained 31 percent growth in from January to May 2010. It is also planning to increase its dealership network to 320 from present status of 290.
Hyundai i10 is the largest selling model that constitutes nearly 40-50 percent of its sales. Hyundai also intends to introduce the diesel variant of i10 by next year. “We have been overwhelmed by the huge response for our existing i10 model and the sales are growing. Unlike others, we want to bring in the latest technology even in our diesel versions. When we think, we will definitely make the difference,” said HW Park, managing director and CEO of HMIL.
The company has also decided to phase out the unprofitable Getz and concentrate on i20.
