New Elantra to help Hyundai consolidate market

Hyundai Motor India has launched the sixth generation version of its sedan Elantra, in both Petrol and Diesel versions, priced at between Rs 13.22 lakh to Rs 19.53 lakh (ex-showroom Chennai). The introductory prices, which vary according to region, will be valid up to December 2016.

Hyundai hopes to use the model to further consolidate its position in the country and in the sedan segment in particular.

“We already have attained significant market share in the SUV segment. With Elantra we will further strengthen our market share in the country,” said Hyundai Motor India MD and CEO YK Koo adding that in order to achieve market leadership in India, Hyundai would introduce two advanced products every year. Hyundai currently has a market share of 17.1 per cent of the Indian passenger vehicle segment and India contributes 13 per cent of its total global sales.

The Elantra is the sixth reboot of the sedan, with previous models having sold a total of 11.5 million units  globally since its launch in 1990. Hyundai is hoping that the new model would help it gain a leadership position in the executive sedan segment, which currently sees around 1,000 units sold a month from six brands..

“We were selling 250 units of Elantra a month so far, and now with the all new version, we expect to sell around 350 units a month,” said Koo.

http://www.onlinenewspaper.co.in/2016/08/new-elantra-help-hyundai-consolidate-market/
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