Hyundai likely to close 2019 calendar with 100,000 bookings of Venue

The vehicle has already achieved 90,000 bookings and is gearing up to expand its export footprint

Hyundai Motor India said it is confident of closing the 2019 calendar year with 100,000 bookings of Venue, its sub-compact SUV.

Stating that the success of Venue in the domestic market had a trickle- down effect on its exports, Hyundai said that it has shipped nearly 1,400 units to South Africa, where the product is scheduled to launch on December 2.

The other export markets include Nepal, Bhutan, Mauritius and Seychelles.

The left-hand-drive model is being developed for export to the Gulf, Africa and Latin America, the company added.

The compact SUV segment has a total market size by volume of 207,459 units, of which Venue has a market share of about 21.3 per cent. Other brands in the segment include Brezza, Ecosport, Xuv 300 and Nexon.

S S Kim, Managing Director and CEO, Hyundai Motor India said with its launch in May 2019, Hyundai Venue has penned a new success story, having registered over 90,000 bookings between May and November in India.

Stating that Hyundai started a technology wave with the first connected mobility in the SUV segment, making Venue the talk of the town since its unveiling last summer. 

Vikas Jain, National Sales Head, Hyundai Motor India added that the key reasons for the product's success are its style, features, colours, value for money, and warranty, among others.

The product is also available in petrol and diesel variants, whereas the Hyundai's key competitors have only one variant.

Jain said the company recorded the fastest production ramp-up in its segment in order to meet the demand for the vehicle. While the company has over 90,000 bookings for Venue, it delivered around 60,000 so far.