Business Companies 20 Jan 2023 Car market in India ...

Car market in India has rebounded, says Hyundai

DECCAN CHRONICLE. | MICHAEL GONSALVES
Published Jan 20, 2023, 11:59 pm IST
Updated Jan 21, 2023, 7:33 am IST
The new Grand i10 Nios establishes a new segment benchmark with first-in-segment - 4 Airbags (as standard), 6 Airbags as an option and more than 30 advanced safety features, Garg said. — By Arrangement
 The new Grand i10 Nios establishes a new segment benchmark with first-in-segment - 4 Airbags (as standard), 6 Airbags as an option and more than 30 advanced safety features, Garg said. — By Arrangement

PUNE: Hyundai Motor, India’s second biggest car maker, said India, which surpassed Japan to become the third largest auto market globally, would continue the growth trajectory this fiscal too.

Driven by surging demand for SUVs, India’s car industry clocked 24 per cent YoY growth to drive past a record 3.8 million units in a year while Hyundai, Tata Motors, Kia and Skoda logged their best-ever annual sales. In the calendar year 2022, Hyundai sales were at its highest-ever level in domestic sales at 5,52,511 units with a growth of 9.4 per cent over last year.

“Despite global headwind, Russia-Ukraine war, the US recession, India continues to be a resilient economy and growing,” Tarun Garg, COO – Sales, Marketing, Service & Product Strategy at Hyundai Motor India told Financial Chronicle on the sidelines of the launch of a new version of its hatchback car, the Grand i10 Nios, at an introductory price of Rs 5.68 lakh at pan India showroom.

The Grand i10 NIOS is available in four variants – Era, Magna, Sportz and Asta. It competes with the likes of Maruti Suzuki Swift and Tata Tiago.

“This compact high segment where Nios comes is an important segment and growing. It comprises over 31 per cent of the total market,” Garg pointed out.

He said nearly 42 per cent of Hyundai i10 hatchback owners last year were first time buyers in the country. Hyundai sold over 1 lakh units of i10 Nios units last year.

The new Grand i10 Nios establishes a new segment benchmark with first-in-segment - 4 Airbags (as standard), 6 Airbags as an option and more than 30 advanced safety features, Garg said.

The new Grand i10 NIOS combines safety, comfort and style with a host of best-in-segment features, including sporty and bold fascia, connected design LED Tail Lamps, Cruise Control ,Tyre Pressure Monitoring System (Highline), Child Seat Anchor (ISOFIX) and Fast USB Charger [Type C] making it attractive for new-age millennials.

Mechanically, the updated Grand i10 NIOS is identical to the outgoing version. It is available with a 1.2-litre petrol engine that makes 82 BHP and 114 Nm. The engine is paired with either a 5-speed manual or a 5-speed AMT. The car is also available with a factory-fitted CNG kit.

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Location: India, Maharashtra




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