Hyundai Motor India To Launch Two More Models
CHENNAI: Car maker Hyundai Motor India Ltd will, as part of its strategy to position itself as a modern premium automobile company, launch two more sports utility vehicle (SUV) models of which one will be launched this year and another couple of years down the line, said a top company official.
"We want the company to be positioned as a modern premium brand company - a segment between mass and luxury models. We will be launching Tuscan in October-November this year," Managaing Director Y.K.Koo told reporters here on Thursday.
He was here to launch Elantra - one of the four models that would fit in modern premium segment.
"We will be launching a sub-four metre SUV couple of years down the line," Koo added.
According to him, the diesel Tuscan will be powered by two litre engine imported from Korea and will be positioned between Creta and Santa FE.
Koo said the Tuscan will be priced between Rs 25 lakh and Rs 30 lakh.
Queried about the specifications for the proposed sub-four metre SUV, Senior Vice President Rakesh Srivastava said they are in the planning stage and nothing has been finalised.
He said that HMIL is targeting around 500,000 units sale in the domestic market this year.
He said the company hopes to sell around 200-250 units of Elantra per month as the segment size itself is around 1,000 units per month.
"We want to have leadership in this segment," Srivastava added.
According to Koo, the company has a product in all the segments - mass to premium.