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World Business News |
Chennai News
NEW DELHI, APRIL 5. Hyundai Motor India
today rolled out Tucson, its second offering in the SUV
(sport utility vehicle) segment, enlarging its product
portfolio in India.
It is hoping to sell 150-200 units of the new vehicle a month
and would be bringing it initially as a completely-built unit
(CBU).
Tucson has been priced at Rs. 14.30 lakhs (ex-showroom
Delhi). Terracan, Hyundai's first offering in the SUV
segment, carries a price tag of Rs. 19 lakhs.
Talking to media persons on the occasion of the launch, B. V.
R. Subbu, President of HMIL, said, "Though in the same
segment, Terracan and Tucson are different vehicles. While
the Terracan is a full-fledged SUV, the Tucson is a milder
form, which complements as a car, a SUV and a MPV. Both
products would, therefore, co-exist in our portfolio.''
Mr. Subbu said depending on sales, the company might bring it
as semi-knocked down (SKD) unit and then as completely
knocked down.
The new vehicle is powered by a 2-litre CRDi diesel engine
and comes with `torque on demand' four-wheel drive combining
automatic and manual drive.
It will primarily compete with models like Ford's Endeavour,
Honda's CR-V and Suzuki's Grand Vitara.
While the company will target sales of 1,500-2,000 units of
the Tucson annually, it is hoping to maintain the current
level of sales of Terracan at 500 units.
Elaborating on future plans, Mr. Subbu said the company was
working towards expansion of capacity in India as it expected
sales to grow around 16 per cent this fiscal to 2.60 lakh
units. The issue of capacity constraint faced by the company
would be overcome with the establishment of a new plant by
2007 involving an investment of $500 million.
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