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Hyundai may get into sub-compacts

Udit Prasanna Mukherji  |  Kolkata 

Hyundai may join the battle in the sub-compact car market in India after introduces its Rs 1 lakh car.
Executives at Hyundai Motor India, the subsidiary of South Korea's Hyundai Motor Company, refused to comment on the possible foray into the sub-1,000 cc segment. However, sources close to the company said the effort was already on.
Hyundai could use the 800 cc model produced by its sister concern, Kia Motors Corporation, in India. Kia Motors Corporation, an associate company of Hyundai and the second biggest car manufacturer in South Korea, sells 800cc cars in Southeast Asia, including South Korea.
The company has a strong presence in the Chinese market, too, through a joint venture.
According to sources, Hyundai Motor India's small car is likely be priced below Rs 2 lakh and possibly as low as Rs 1.6-1.7 lakh. The model could be rolled out in 2008-09.
In India, Hyundai's entry-level car is the Santro, priced from Rs 2.70 lakh, it falls in the compact car segment.
Besides a small car, could also enter the high growth, small commercial vehicle market in India.
Hyundai Motors India Vice-President, marketing and sales, said here today the company was happy with sales of the Santro. "Let launch its small car first, then we will see its impact on the market," Saxena said.
However, commenting on the company's foray into the commercial vehicle segment, Saxena said was currently assessing the Indian market.
"We have commercial vehicles in South Korea and other markets, but we have not yet decided anything," he added.
The company is likely to enter the commercial vehicle segment with a 1-tonne pick-up truck, the fastest growing segment. The segment is now ruled by Tata Motors' 207 model.

First Published: Wed, December 13 2006. 00:00 IST