Financial Daily from THE HINDU group of publications Thursday, Apr 29, 2004 |
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Corporate
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Announcements Hyundai Tucson may hit India in July S. Muralidhar
Chennai , April 28 AFTER the muted success of the Terracan - the full-sized, luxury sports utility vehicle (SUV), Hyundai Motor India is now set to spring a surprise in the lower priced compact SUV segment with the planned launch of the Hyundai Tucson in July this year. The brand new compact SUV will be launched in India as part of the company's simultaneous global roll out plans. The Tucson (pronounced `Tuesawn') could be launched with two trim variants that are expected to be priced between Rs 12.5 lakh and Rs 15 lakh. Speaking to Business Line, Mr J.I. Kim, Managing Director of HMI, said that the company is considering the possibility of launching the Tucson in India. He felt that the market for such a product exists in the country as is evidenced by the increasing number of players in the segment. Mr Kim however, refused to give further details. Industry sources say that the new SUV would initially be powered by a two litre, double overhead camshaft (DOHC), four-cylinder engine, which will feature a CVVT (continuously variable valve timing) mechanism. Industry sources feel that HMI, after tasting success with its common rail diesel engines, may look at a CRDi engine also for the Tucson. Later, the Tucson could also be offered with a 2.7-litre V6 engine. With the launch of the Tucson, Hyundai will compete with the current crop of compact SUVs such as the Honda CR-V and the Chevrolet Forester. The Tucson will also possibly be rolled out in time to take on competition from the upcoming compact SUVs such as the Nissan X-Trail and the Toyota RAV4. All these vehicles will be fully imported and would be priced between the Rs 12-lakh to Rs 18-lakh range. Hyundai has developed the Tucson with its main focus clearly being the SUV-crazy US market. The new compact sports utility was first unveiled at the Chicago Auto Show in February this year and has already received rave reviews for its design, user-friendly features, compact exterior dimensions and yet roomy interiors and the new technology that it showcases. The Tucson will join the larger Hyundai SUV - Santa Fe, which is already a popular vehicle in the US market.
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