In 2014, Hyundai India aims to cross milestone figure of selling 400,000 units in the domestic market. They are sure of achieving this target, and in doing so, this will also be the first time the company would have crossed 4 lakh units domestic sales.
Set up in Chennai, Hyundai India’s plant has a capacity to produce 680,000 units. Together with exports, the plant is currently the most utilized car plant in the country. As of now, Hyundai India plant is functioning at 99.8% capacity. This leaves them with no scope of adding production, if need be.
But, Hyundai India will soon be needed added production, if they want to continue their growth in the country, and at the same time do not want to sacrifice on exports. (Earlier this year, Hyundai India stopped exports of i20 from Chennai plant, this was needed as to meet the local demand.)
In addition to the success of their existing new cars like Hyundai Xcent, Grand i10, and Elite i20, the company has plans to launch at least three new cars in 2015 (two of them completely new). These three are – Verna facelift, i20 Cross, and a compact SUV (mostly ix25), all three have been already spied on test in India.
Speaking about these three new cars, Verna facelift will replace the existing Verna. Price is expected to remain unchanged. ix25 will be a rival to Renault Duster, Mahindra Scorpio and Nissan Terrano. It will be longer than 4 meters and will be priced in the Rs 8-12 lakh segment. While i20 Cross will be a adventurous variant of Elite i20 and will compete with Volkswagen Cross Polo, Toyota Etios Cross, and Fiat Avventura. It will be priced in the Rs 5.5-8.5 lakh range. All three cars will come with petrol and diesel engine options, mated to a manual transmission. Automatic transmission will be on on offer with Verna facelift petrol variant.
Once these new cars are launched, it is expected Hyundai India will have to sacrifice on exports, as for the company, meeting local demand is a priority. Hyundai is also looking towards setting up a new plant in India. This will mostly come up in Gujarat.