Keeping rising choice of customers for SUVs in the country in mind, South Korean car major Hyundai Motor on Monday launched all new Tucson. The company will also be launching an entry level SUV in the first half of 2019.
“We aim to launch an entry level SUV in the first half of 2019. It will be below Creta. So, we will have four SUVs in our product range,” said Hyundai Motor India ltd MD & CEO YK Koo.
Hyundai is developing a sub 4-metre compact SUV so that customers get wider choice to select products according to its resources. It had showcased concept compact SUV Carlino at the Auto Expo this year in February.
Hyundai launched the third generation Tucson with both petrol and diesel powertrains. The manual petrol variant is priced at `18.99 lakh while the diesel versions are priced between `21.59 lakh and `23.48 lakh.
The company has set a target of selling 500-700 units of the model per month. Hyundai has now three SUV models in its portfolio, Tucson, Creta and Santa Fe.
Talking about SUV market he said it is growing very fast in the US, China, Russia and Europe and India is no exception.
The global market for SUVs is projected to surpass 21 million units by 2020 driven by declining fuel prices, safe, convenient, comfortable and luxuriant personal mobility needsin emerging markets and growing preference for recreation driving in remote and rugged areas. China and India continue to remain primary markets for SUVs.
“The company also plans to launch a 4X4 option of the Tuscon by April next year,” he added.
The company had launched the SUV earlier in 2005 and had managed to sell around 1,800 units.
When asked about company’s hybrid vehicles in India Koo said : “Hyundai has strong portfolio of electric and hybrid vehicles. We are planning to unveil a hybrid product during the 2018 Auto Expo.