Hyundai bets on i20 to drive sales

The company on Tuesday drove in two new versions of its i20 model — 1400cc diesel and a 1400cc petrol automatic which it hopes will help it get a stronghold in the still-nascent premium compact segment. “We hope to nearly double the sales of the i20 after the launch of these two new versions to 4000 units monthly,” Hyundai India MD HS Lheem said. While the base diesel version costs Rs 6.19 lakh, the petrol automatic has a starting price of Rs 7.31 lakh (ex-showroom Delhi).

But as it strengthens presence in premium compacts, Hyundai seems to be facing a stiff challenge in domestic market sales after a slew of new launches threatened demand for its its bread-and-butter i10 model. Hyundai has seen domestic market sales remain near flat in the six months ending June and admits that competition is rising.

“There has been a little bit of slowdown in i10 numbers but we are confident that we will meet competition comfortably,” Lheem said. Hyundai sold about 1.35 lakh vehicles in the domestic market in the first half, and has been making up for this lacklustre performance by higher exports.