Hyundai is evaluating possibilities of entering into different segments and if demand persists it could as well debut in the MPV space where Maruti Ertiga rules
Hyundai Motor India Limited (HMIL) has a wide reach in the volume-based segments and it resulted in the brand becoming the second-largest carmaker in the country. However, its glaring absence in the MPV space is there for everyone to see. The Venue entered the compact SUV segment and made a name for itself in no time.
Until the Venue’s arrival, Hyundai never competed in the sub-four-meter SUV space but it made amends for the non-existence by pitching Venue as a highly desirable and feature-packed offering. In a recent interview, HMIL’s Managing Director and Chief Executive Officer, SS Kim spoke about the possibility of expanding into other segments.
He said that there are no immediate plans right now but “lot of studies are being conducted” across different segments in the domestic market. If the demand among buyers exists, the South Korean auto major could introduce an MPV and the company would “think seriously about it” he explained.
The company is also looking at various options by changing some SUV body styles into other body types based on customer preferences as part of “smart engineering” by being cost-effective. He strongly believes the advent of new rivals like Kia Seltos won’t impact the sales of the Creta as it has a dedicated fanbase.
While admitting that the second generation Creta is in the making, he could not give a definitive timeline, as its launch will depend on the market situation. The all-new Hyundai Creta based on the iX25 sold in China is expected to debut at the 2020 Auto Expo next February.
Meanwhile, Hyundai will update its entire portfolio will BSVI compliant petrol and diesel engines ahead of the April 2020 deadline. The newly launched Grand i10 Nios is the first Hyundai model to gain BSVI upgrades. With a number of exterior and interior updates, the hatchback comes with a starting price of Rs. 4.99 lakh (ex-showroom).
It must be noted that Hyundai had showcased the Hexa Space MPV concept at the 2012 Auto Expo but it never made it to production lines. If Hyundai decides to enter the MPV segment, competing against Maruti Suzuki Ertiga could be the ideal move. What are your thoughts on it?