Hyundai has confirmed that the company will develop Micro-SUV depending on the market requirement
SUVs are one of the most popular body styles in the Indian market and this has helped the compact SUV segment to post much higher growth than other segments, but volume in hatchback segment is not slowing down and Hyundai is keen to expand the market share in this segment with new Santro.
The Santro is the model, which made Hyundai popular in Indian market and the hatchback was discontinued in 2014. Since then the company lost significant amount of share in this entry volume segment even though they had Eon, which is not performing well compared to competitions and this has been one of the reasons for the comeback of Santro.
The company is giving importance to the SUV segment as Creta is the best selling premium SUV in the Indian market. When asked about Micro-SUV segment, Young Key Koo, managing director, Hyundai Motor India said that if the market requires then the company will develop a Micro-SUV in the long term.
Earlier there were some reports that the company is working on a new Micro-SUV to rival upcoming Maruti Future S. Mahindra KUV100 is currently the only model in Micro-SUV segment and volumes are very low as customers prefer premium hatchbacks, which offer more features and better drivability.
But it might change with the launch of new models from manufacturers like Maruti and Tata, which will certainly increase volume and Hyundai might change their decision. The company is currently working on a compact SUV below Creta to take on Vitara Brezza and they are expected to introduce the new generation of Santa Fe, which comes with 7 seats and lots of new technologies to lure customers.
Koo is confident that the new Santro is expected to bring good numbers and they are eying for 30 per cent share in the entry car segment. Hyundai is planning to launch 8 new products till 2020 as sales might slow down after the introduction of BSVI norms as it will increase the price.