Click to play videoNew Delhi: Hyundai has launched its new hatchback i20 in the Indian market. The company hopes to sell 20,000 units of the car annually and is targeting the car primarily for the export market where it's set a target of 1,50,000 units annually.
This car is pitted against Maruti Suzuki Swift and Honda Hazz which is slated to be launched sometime in 2009.
Three variants of the i20 will be available in India, ranging from rupees 4.9 to 5.9 lakh.
The top-end version is the safest in its class, sporting a so-far-unheard-of 6 airbags. The car comes with a 1.2 litre petrol engine but there are no plans of a diesel variant at the moment.
“The diesel option is for exports 1.4 and 1.6 litre, for India we will have to wait and see,” says MD & CEO, Hyundai Motor India, HS Lheem.
The new car comes at the end of a good year for the company. Market share has gone up, as has volume growth despite the company having had to resort to production cuts, and falling short of its production target by 7 per cent.
“This year has been very good for Hyundai. We have grown by 20 per cent and market share has gone up by 3 per cent,” adds HS Lheem.
The company wants to keep its promise of launching 2 new models every year. It plans to launch an upgraded version of the Sonata, and a diesel version of the i-10 in the first half of 2009.
But Hyundai has had to give up some of its ambitious plans. It has shelved the launch of its SUV Santa Fe, as a strengthening rupee will make importing the car difficult.
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