Hyundai plans to enter compact SUV, MPV segments in India

South Korean carmaker, Hyundai has revealed that it is planning to enter the Compact SUV and multi-purpose vehicle (MPV) segments in India. While there is no official word, it is rumoured that the company will launch a compact SUV sometime next year.

The compact SUV segment has been growing at a fast pace with players like Ford and Renault leading the way. Additionally, Mahindra has been readying a new vehicle and Maruti, Honda, Tata and Volkswagen are expected to jump into the fray as well. Hyundai will not want to be left behind.

The MPV segment has also seen good growth. With Hyundai's competitors, Maruti and Honda doing well with the Ertiga and recently launched Honda Mobilio respectively, it is obvious that it's only a matter of time before the Korean manufacturer enters the segment. Nissan's budget brand, Datsun is also gearing up to launch the GO+, which will make the competition even stiffer.

In the last two years, Hyundai has launched five new models, including the Elantra, Grand i10 Grand  Santa Fe, Xcent and Elite i20. The company's market share has grown from 20.4% in the period January - July 2013 to 21.6% for the same period in 2014.

Source: Economic Times

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