Hyundai to launch small car in India & China
June 2, 2008 by Alborz Fallah
Korea’s largest car manufacturer, Hyundai, has revealed plans to launch its small car in India by 2011 or 2012. The car will also find its way to China and be priced at around $3,500 – $1000 more than Tata’s Nano.
Hyundai India’s managing director H.S. Lheem told reporters that his company has no immediate plans to fight directly with the Nano, while dropping hints that the small car would be launched in other countries also.
Hyundai plans to begin mass-production in the “early part of next year”, but no other details are currently available.
The Korean company is currently the 2nd largest car manufacturer in India, coming in behind Maruti Suzuki India. Hyundai India last year exported just above 100,000 cars and expects to hit 200,000 this year.
Hyundai Motors will also build luxury buses in India with technical assistance from UK-based Caparo group.
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With that sort of competition Hyundai might be best for build quality in the market segment for once!
I wonder what sort of implications this is going to have on Hyundai’s global production figures… if they can really make a bang for buck $3500 car, they will sell millions in China and India because of the sheer market size. Before long they might be rivalling Toyota in term of cars sold annually.
But does this really count? :-|
Put the old 90s Accent/Excel back into production. :P