new delhi,JUNE 18
Hyundai Motor India on Friday expanded its SUV range in the country with the launch of new model – Alcazar – priced between Rs 16.3 lakh and Rs 19.99 lakh (ex-showroom Delhi).The country’s second largest passenger vehicle maker is looking to further consolidate its position in the fast-growing SUV segment with the introduction of Alcazar which comes with six and seven seat configurations.
Hyundai already leads the SUV space in the country with models like Venue, Creta, Tucson and Kona Electric.The company said it has invested about Rs 650 crore on the development of the new model which would compete with the likes of Mahindra XUV500 and recently launched Tata Safari and Hector Plus.The SUV comes powered with two engine options of 2-litre petrol and 1.5-litre diesel with choices of six-speed automatic and six-speed manual transmissions.The petrol trims are tagged between Rs 16.3 lakh and Rs 19.84 lakh while the diesel variants are priced between Rs 16.53 lakh and Rs 19.99 lakh.As per the company, the manual petrol trims deliver a fuel efficiency of 14.5 kmpl, the automatic variants 14.2 kmpl. The diesel manual trims come with 20.4 kmpl while the automatic versions deliver 18.1 kmpl.“This year we have embarked on a new journey as we complete 25 years of excellence in India. Hyundai has entered a new segment and we aim to redefine premium travel experiences for our customers across the country,” Hyundai Motor India MD and CEO SS Kim stated.
The model will fortify the company’s leadership position in the SUV segment and perfectly complement its line-up of Venue, Creta, Kona Electric and Tucson, Kim added.India has seen a robust increase in SUV sales over the last few years. In 2015, the SUV segment contributed only 13.5 per cent to the overall passenger vehicle sales. This number became about 26 per cent in 2019 and further rose to 29 per cent in 2020.Hyundai currently leads the SUV segment in the country with a market share of 23.3 per cent in the January-May period this year.The company’s market share in the segment has consistently grown over the years.
From 11.3 per cent market share in 2015, the company’s share rose to 22.7 per cent in 2019 and to 25.5 per cent in 2020.
