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Hyundai to launch Brezza competitor in early 2019

Snapshot: According to Y.K. Koo, the managing director of Hyundai Motor India, compact cars have grown at 15% in India, while SUVs grew at a massive 37% in the first 10 months and they think that the SUV segment will grow with a growth rate of 25-30% till 2020.

The South Korean automaker Hyundai is planning to launch a sub-four meter SUV, which will compete with the Maruti Suzuki Vitara Brezza. The popular SUV from Maruti Suzuki sells 4,000 units a month, whereas the more expensive and more premium Creta from Hyundai sells almost the same. However, the Korean giant thinks that there’s a chance of selling more SUVs in the price range of 4-9 lakhs, as more number of people have taken a liking to cars which have a stance like SUVs and can give the owners the feel of sitting inside a big bulky car.

According to Y.K. Koo, the managing director of Hyundai Motor India, compact cars have grown at 15% in India, while SUVs grew at a massive 37% in the first 10 months and they think that the SUV segment will grow with a growth rate of 25-30% till 2020. As per sources, the project name of the sub-four meter SUV, is QXi and it will hit the Indian shores in early 2019. The compact SUV will be powered by a small one-litre turbocharged engine. Hyundai further expects that after the launch of QXi, SUV’s will massively contribute to the total sales volume of the company. 

Additionally, the company is also planning to add electric vehicles in their portfolio. It has immediate plans to launch hybrid cars in the mid and high end segment, which will also include SUVs. According to Koo, they will introduce mild hybrid technology in their immensely popular sedan Verna and other SUVs. Hyundai’s main rival Maruti Suzuki already has mild hybrids cars like Ciaz sedan and the Ertiga MUV, which provides better mileage than its conventional counterparts and also greener for the ecology. 

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