Our sources tell us that after evaluating the current market temperament, Hyundai Motor India Limited (HMIL) has concluded that a compact SUV is the way to go. The Korean firm is currently developing a brand new compact SUV that will emerge in early 2015 for the Indian market, the tests for which are currently being done in Korea.
HMIL intends to price the compact SUV below Rs 10 lakh to enter direct competition with the likes of Renault Duster, Ford EcoSport and a soon-to-be-launched Maruti compact SUV. Clearly, the market has shown that there is tremendous growth in the compact SUV segment with the Duster, Ecosport and now Terrano attracting massive consumer interest.
Hyundai is also on a massive expansion spree wanting to be able to provide the Indian consumer with a multitude of choices at various price brackets and, thereby, also creating new segments, much like Maruti has done in the past and continues to do so.
Hyundai will offer both diesel and petrol engine options for the forthcoming SUV. We expect the diesel will be either the same 1.5-litre CRDi engine used in the Verna and Elantra or a refreshed engine that will conform to the emission norms in 2015.
The platform will, however, be an all-new platform and expect to see it as a concept at the Auto Expo in New Delhi in 2014 or close to pre-production form at an international motor show in 2014.
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