The Hindu Business Line : Hyundai to launch two new models every year

Bullish about the growth in the Indian market, Hyundai Motor India on Friday said it would launch two new models every year for the next few years and is conducting a feasibility study to launch a one-tonne commercial vehicle, Porter.

The new cars from the company's portfolio would primarily be in the diesel category, including a 1.2-litre diesel engine hatchback, the Hyundai Motor India Managing Director, Mr Heung Soo Lheem, said.

He said, "We are working on feasibility studies for launching our one-tonne payload `Porter' in India.'' However, price would be a "critical question" for deciding on the launch of the vehicle and when the product is brought to India, it would be manufactured locally, he added.

Mr Heung further said the company would launch a diesel version of its premium sedan `Sonata Embera' by the fourth quarter of this calendar year. Asked on the launch of the mid-size `Verna', he said it was on the cards.

``We plan to launch the car within this year itself and are working on it,'' he said, adding that it will come in both petrol and diesel variants.

He, however, emphasised that the current mid-size offering `Accent' would not be phased out after the launch of the Verna. He said the Accent had a good demand in export markets such as Algeria and Morocco and around 10 per cent sales of the car last year were through overseas markets.

The company, which has made India the hub for the `Santro', faces a capacity constraint. Hyundai currently has an annual capacity of 2,50,000 units, which it is scaling up to 3,00,000 units by going in for a third shift at its Chennai plant.

It is also setting up a 3,00,000-unit second facility, which is likely to be operational by October next year.

Mr Heung said Hyundai expected sales to be around 3,00,000 units this year against 2,50,000 last year.

``Around 2,00,000 units will be sold in the domestic market, while the rest will be through exports,'' he said.

Asked where the company would source the 1.2-litre diesel engine, which is likely to be fitted on Getz, he said, Hyundai had an engine of that size, which could be sourced or manufactured in India.