With an eye on retaining its pole position, Hyundai has internally approved funding for an entry-level SUV codenamed Ai3 CUV for 2023. That will take on Tata Punch and add to the volumes in the coming two years. The company is likely to add a new Ioniq electric SUV from the global portfolio in 2022.
“SUVs are the flavour of the season and customers increasingly prefer SUVs to other body styles,” said Tarun Garg, director sales and marketing at Hyundai Motor India. “As a leader, we continue to explore new segments and conduct market research to cater to customer needs.”
Hyundai Motor India has already committed to bringing in six all new EVs in the coming 5-6 years and the majority of its future EVs could be SUVs.
In a market of 1.2 million, Hyundai Motor India sold close to 2.5 lakh SUVs in 2021. The segment contributed to about half the domestic sales. Hyundai sold 1.25 lakh alone of Creta SUV while the Venue, sub-4 metre SUV also eclipsed one lakh unit sales in 2021. In the last five years, more than 8.35 lakh units of Hyundai SUVs have been sold.
The company aims to further capitalise on the full year of sales of Alcazar in 2022 with Creta continuing to lead the segment despite new competitions.
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