Hyundai plans more SUV launches as it targets to grab good share in the segment with the likes of Creta facelift and a sub-compact model
Hyundai is targeting the SUV segment in Indian market and planning to roll out more SUVs in next two years. It has already launched the premium Tucson SUV on 14th November. This SUV targets the upwardly mobile customers, who want to upgrade to a premium car. Last year the Korean automaker launched Creta, which has gained immense popularity in the country and now with the launch of Tucson, Hyundai’s ambition to hold a strong share in SUV segment in domestic market is clear.
Presently Hyundai is working on an entry level compact SUV, which is expected to launch sometime in 2018. It will be positioned under the Creta. The company showcased Carlino concept at 2016 New Delhi Auto Expo, which garnered huge attention and appreciation as well. The upcoming small SUV is expected to be based on the Carlino concept.
Also read: Hyundai Small SUV in the Works
With this upcoming model, Hyundai will have four SUVs in its product range. The existing three models are Santa Fe, Tucson and Creta. The company is presently the second most popular car brand in India after Maruti Suzuki. The company has already established itself as a major player in the compact car market. Now it is set to close the cumulative sales of 7 million units this month. The automaker claims, it is the fastest to reach the target in the country.
Speaking about its plan, Mr. Rakesh Srivastava, senior vice-president, sales and marketing HMIL has said, Indian customers have become value conscious rather than price conscious. Average age of Hyundai customers are between 25 and 32 years, which is 5-7 years lower than rest of the industry. Also, these customers spend 15% – 20% extra than others. Studying these trends, Hyundai has decided to introduce more premium models in its portfolio.
While Hyundai Tucson is the latest addition in the company’s SUV portfolio in India, the Creta facelift is also expected to arrive here in late 2017 or early 2018. Apart from that, the launch of all new entry level compact SUV will enhance the brand’s appeal for sure.
Source: ET Auto