• Deccan Chronicle
  • Andhra Bhoomi
  • Asian Age
  • ePaper
  •  Auto Refresh
Home

ePaper
Last Updated:03:55 PM IST | Wednesday, May 25, 2022
  • Home
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
Menu
  • Home
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
Home > Autos > Hyundai to launch electric SUV 'Kona' in India in July
Autos
Hyundai to launch electric SUV 'Kona' in India in July
By  
PTI   , Published : May 29, 2019, 2:38 pm IST | Updated : May 29, 2019, 2:38 pm IST

Domestic passenger vehicle sales dropped by 17.07 per cent in April, the steepest fall since October 2011.

Hyundai's Puneet Anand declined to share specification details of the proposed sports utility vehicle planned for India.
Hyundai's Puneet Anand declined to share specification details of the proposed sports utility vehicle planned for India.

Guwahati: South Korean auto major Hyundai will drive in its first electric vehicle 'Kona' SUV into India in July, followed by a brand new 'Grand i10' before the festive season as it looks to increase its share in the auto market here, a top company official said on Wednesday.

Besides, the automaker, which is present in India through its wholly-owned subsidiary Hyundai Motor India Ltd (HMIL), is planning to start exporting its latest compact SUV 'Venue' from its Chennai factory in the next 3-4 months.

"We are constantly adding new products in our poprtfolio for the Indian market. We will launch our electric SUV 'Kona' in India in July," HMIL Senior General Manager and Group Head (Marketing) Puneet Anand told PTI here.

He, however, declined to share specification details of the proposed sports utility vehicle planned for India.

Earlier, Hyundai had announced plans to launch its first electric vehicle in a completely knock-down (CKD) form, which would be assembled at HMIL's manufacturing plant in Chennai.

"After the electric vehicle, we will introduce a full model change variant of an existing small car. It is going to be the 'Grand i10' and it will hit the roads before the festival season this year," Anand said.

When asked about its latest compact SUV 'Venue', the senior official said the company has already received over 20,000 bookings and the waiting period of the vehicle is around 3-4 months at present depending upon different options.

"We are currently producing around 7,000 units of the 'Venue' per month at our Chennai plant. We have the capability to ramp up production and we plan to increase the output to monthly 10,000 units within next 3-4 months," Anand explained.

On exports of the model, he said the company's first aim is to fulfill the requirement of the domestic market and does not have immediate plans to sell overseas countries.

"After we stabilise the sales in India, we will start exporting the 'Venue' to our existing strong overseas markets. I do not think the export will begin before next 3-4 months," Anand said.

On May 21, HMIL forayed into the high selling compact SUV segment in India with the launch of new model 'Venue' with three engine options -- 1.0 litre turbo and 1.2 litre petrol powertrains besides 1.4 litre diesel engine -- and placed below the 'Creta' in terms of price and positioning.

Talking about the slowdown in auto market, Anand said the slump in sales began from Kerala flood last year and is continuing till now. "We hope that with the launch of various new products by our company and other automakers, the market will revive. Also, a stable government coming to power at the Centre will help in this regard and the industry is likely to bounce back in the next 4-5 months," he added.

Domestic passenger vehicle (PV) sales dropped by 17.07 per cent in April, the steepest fall since October 2011, as weak customer sentiment led by liquidity crunch, uncertainty revolving elections and high product prices hit sales.

The sales declined for the sixth straight month in April to 2,47,541 units as against 2,98,504 units in the year-ago month. It is the worst dip in PV sales since October 2011, when sales had dropped by 19.87 per cent. All major segments, including two-wheelers and commercial vehicles, witnessed a decline in sales in April.

end-of
Tags: 
hyundai, electric suv, kona, sports utility vehicle, passenger vehicle
Location: 
India, Assam, Guwahati (Gauhati)
Latest From Autos
The new Alto VXI+ with the smart play studio is tailor-made to offer a unique technology-driven experience to our customers.

Maruti Suzuki launches new variant of Alto, priced at Rs 3.80 lakh

“With Yamaha continuing to perk up track performances with the R series, the new YZF-R15 Version 3.0 with BS VI-compliant engine and new features will be able to create optimum excitement in India in its category,”  Motofumi Shitara, Yamaha Motor India chairman, said.

Yamaha rolls out R15V 3.0 BS-4 bike

Till a few years back, the own damage share in motor premium used to be 60 per cent and third party, 40 per cent. However, the share of third party (TP) premium has since gone up to 52.7 per cent in 2016-17, 55 per cent in 2017-18 and further up 59 per cent in 2018-19, data from the Insurance Regulatory and Development Authority of India (irdai) shows.

Share of third party cover rising in motor premia

Most Popular

Mukesh Ambani 9th richest on Forbes' real-time billionaires list
Top credit card myths harmful for your financial well-being
Microsoft CEO Satya Nadella tops Fortune's Businessperson of the Year 2019
Employment growth slowed down in last two years: report
GST structure: key challenges and its solutions

Editor's Picks

Income tax e-filers drop by over 6.6 lakh in FY19: Official data
Swiping on your smartphone reveals a lot about you to your social media company
  • Read Financial Chronicle as it appears in print.
  • Subscribe, and get it delivered in the inbox everyday.
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
  • Home
  • About Us
  • Contact Us
  • Terms of Service
  • Privacy Guidelines
  • Copyright © 2019 Financial Chronicle, All rights reserved
Developed & Maintained By Daksham