What helped, was the response to new products in some overseas markets. “The Verna got very good demand in Middle East markets, Venue did well in the domestic market and we have now started exporting it to South Africa and will add more export markets as well,” he said. HMI currently exports to a total 99 countries.
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The company, which launched its new compact sedan Aura to take on rival Maruti Suzuki’s best-seller Dzire, will continue to sell its earlier sub-4 meter sedan Xcent for fleet markets. “In the compact sedan market the top sellers clock around 10,000-12,000 units a month and the Aura should become a strong competitor and expand the segment,” said Kim. “The existing Xcent will continue to sell for fleet but contribution of sub-4 metre segment will increase with a combination of Aura and Xcent,” he added.
HMI is offering petrol, diesel and CNG options on the Aura. The Aura will be available on two petrol engine options — 1 litre and 1.2 litre — as well as a 1.2 litre Ecotorq diesel option. There’s also a CNG version for the 1.2 litre GSL engine. HMI will continue backing diesel with BS6 technology which, said Kim, is both technologically advanced and fuel efficient. “There is strong demand for diesel in several markets and we don’t want to lose out,” said Kim.
Hyundai’s compact sedan push is a volume play. “In India it is very clear that the first time buyer prefer entry level vehicles so we will continue our presence there. We exit the Eon and old Santro segment but we are playing in the mid-compact with new Santro and compact high with i10 Nios allowing our customers opportunity to upgrade within the Hyundai family,” said Kim. “Growth is ok but we need more volumes too. We want to be present in all segments,” he added.
