New Eon to take on Maruti's Alto K10; Grand i10 to battle Swift.
Hyundai Motor India, the second-largest car manufacturer in the country, is beefing up its small car portfolio with a slew of new models to take on market leader Maruti Suzuki.
The company is planning to launch new Eon 1.1 litre, which will be pitted against Maruti’s Alto K10.
“Eon competes with the entry-level Alto (now Alto 800), but does not have a product that competes directly with Alto K10. The company may introduce the new Eon with 1.1L engine, which is currently being used in Santro Xing,” said a person familiar with the development.
The company launched Eon in October 2011 and currently offers 814cc gasoline engine.
“The company wants to focus on the entry-level segment. Eon was launched to compete with Alto. Alto is one of the best selling models in the country, while Hyundai has not been able to catch up with the Alto numbers. The new Eon will co-exist with the existing Eon,” said the source on condition of anonymity.
The company did not respond to an email query.
In the last financial year, Alto sold roughly around 20,000 units a month, while Eon sales averaged around 7,000-8,000 units a month.
The company will also launch its small car Grand i10 in September this year, which is expected to compete with Maruti’s Swift. Grand i10 is a completely new car and will be positioned between i10 and i20. It will be manufactured at the company’s Chennai plant.
“The Grand i10 has been positioned above the existing i10 and is targeted at the emerging compact high-entry segment,” the company said.
Grand i10 will come with two engine variants -- 1.1 litre U2 diesel and 1.2 litre Kappa petrol.
Even though the passenger car segment declined 10% this fiscal, experts feel that a new launch will bring excitement in the market.
“Bringing a new product in the segment definitely creates a pull. In terms of product strategy, Hyundai is good at hitting the right area. They offer what Indians want. They were a bit weak on the diesel engine front, but the company will surely benefit with the new diesel engine offering,” said Puneet Gupta, associate director, IHS Automotive.
Hyundai India reportedly is planning to launch up to four new models in the next two years, including a compact SUV and compact sedan.
Hyundai Motor India, the second-largest car manufacturer in the country, is beefing up its small car portfolio with a slew of new models to take on market leader Maruti Suzuki.
The company is planning to launch new Eon 1.1 litre, which will be pitted against Maruti’s Alto K10.
“Eon competes with the entry-level Alto (now Alto 800), but does not have a product that competes directly with Alto K10. The company may introduce the new Eon with 1.1L engine, which is currently being used in Santro Xing,” said a person familiar with the development.
The company launched Eon in October 2011 and currently offers 814cc gasoline engine.
“The company wants to focus on the entry-level segment. Eon was launched to compete with Alto. Alto is one of the best selling models in the country, while Hyundai has not been able to catch up with the Alto numbers. The new Eon will co-exist with the existing Eon,” said the source on condition of anonymity.
The company did not respond to an email query.
In the last financial year, Alto sold roughly around 20,000 units a month, while Eon sales averaged around 7,000-8,000 units a month.
The company will also launch its small car Grand i10 in September this year, which is expected to compete with Maruti’s Swift. Grand i10 is a completely new car and will be positioned between i10 and i20. It will be manufactured at the company’s Chennai plant.
“The Grand i10 has been positioned above the existing i10 and is targeted at the emerging compact high-entry segment,” the company said.
Grand i10 will come with two engine variants -- 1.1 litre U2 diesel and 1.2 litre Kappa petrol.
Even though the passenger car segment declined 10% this fiscal, experts feel that a new launch will bring excitement in the market.
“Bringing a new product in the segment definitely creates a pull. In terms of product strategy, Hyundai is good at hitting the right area. They offer what Indians want. They were a bit weak on the diesel engine front, but the company will surely benefit with the new diesel engine offering,” said Puneet Gupta, associate director, IHS Automotive.
Hyundai India reportedly is planning to launch up to four new models in the next two years, including a compact SUV and compact sedan.
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