Comments
Hyundai Motor India (HMIL) said the company’s SUV segment will contribute around 60 per cent of its overall sales with the launch of its micro SUV, Exter, on Monday. The car is priced starting at ₹6 lakh and going up to ₹10 lakh (ex-showroom).
“Exter will create a benchmark for not only Hyundai Motor India, but for the overall industry. The sub-four metre SUV segment is now contributing around 59 per cent of the total SUV sales, a consistent growth from 47 per cent in 2020,” Tarun Garg, Chief Operating Officer, HMIL, told businessline.
The micro- or entry-level SUV segment was created after the launch of Tata Motor’s Punch in 2021 and contributed 3 per cent to the overall SUV sales then, which grew to 14 per cent in 2022. This year, it is expected to reach up to 16 per cent and with Exter’s launch, 20 per cent next year, said Garg.
The entry SUV is selling around 10,000 units a month on an average and in this similar price range, there is a big market where hatchbacks and premium hatchbacks also exist. So, the Exter will attract a lot of such customers, including first-time buyers in the young age group,” he added.
Such entry and compact SUVs have disrupted the sales of hatchbacks over theyears. In 2019, the share of hatchback was 46 per cent in the overall passenger vehicle (PV) sales, which has come down to 33 per cent now. “But, in the SUV segment, the shares have gone up since 2018. It was 22 per cent in 2018, 26 per cent in 2019, 29 per cent in 2020, 38 per cent in 2021 and 42 per cent in 2022. And, this year till June, the SUV share is 46 per cent to the overall PV market,” Garg said.
For Hyundai, he said with seven existing models — Venue, Creta, Alcazar, Tucson, Ioniq 5 electric and Kona electric — the company has grown its shares from 22 per cent in 2018 to 53 per cent in 2022. And, this year till June, it has a share of 54 per cent from the SUV segment.
“Exter is the eighth SUV for us and we have always created a benchmark. I would say not only in the SUVs with the launch of Creta, but also in other segments we have created a benchmark,” Garg added.
Exter will have safety features such as six airbags. Powered by 1.2-litre petrol kappa engine, the five-speed manual trims would deliver fuel efficiency of 19.4 kmpl and be priced between ₹5.99 lakh and ₹9.31 lakh. The five-speed automatic variant is priced at ₹7.97-10 lakh with a fuel efficiency of 19.2 kmpl. The CNG trim is priced at ₹8.23 lakh with an efficiency of 27.1 km per kg.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.