BENGALURU: Korean carmaker Hyundai Motor (HMIL) on Monday launched its smallest sports utility vehicle (SUV) Exter as it aims to attract new sets of consumers who are looking to graduate from hatchbacks. Launched at a starting price of `5.99 lakh, the Smallest sports utility vehicle will face tough competition to Tata Motor’ Punch, which retails between 11,000- 12,000 units per month.
According to Hyundai Motor India chief operating officer Tarun Garg, Exter will bring in additional volumes for the company. Garg anticipates that the mini-SUV segment could touch 20,000-22,000 units a month with the launch of Exter.
Hyundai claims that it is the only company to offer products in the six SUV sub-segments and has leadership in three premium segments. Currently, SUVs account for Hyundai’s 54% of domestic sales as against the industry’s average of 46%. Hyundai expects SUV contribution to go as high as 60% following the launch of Exter. So far, the new vehicle, developed at a cost of `950 crore, has received over 10,000 bookings.
Hyundai has increased its production capacity to more than 8.20 lakh units in its Tamil Nadu plant, adding over 50,000 from the current level, to meet the growing demand. Unsoo Kim, managing director and chief executive officer of Hyundai Motor India Limited, said, “Hyundai Exter is poised to redefine this fast-growing segment. We are confident that Hyundai Exter will exceed our customers' expectations and reaffirm Hyundai’s position as India’s leading smart mobility solutions provider.”
Exter is available with three powertrain options — 1.2 l Kappa petrol engine (E20 Fuel Ready) with choice of 5-speed MT & Smart Auto AMT and 1.2 l Bi-fuel Kappa petrol and CNG with 5-speed MT.