NEW DELHI: Eyeing leadership position in the subcompact SUV segment, Korean automaker Hyundai on Tuesday launched Venue at a competitive starting price of Rs 6.50 lakh, which goes up to Rs 11.10 lakh.
The small SUV segment has been the fastest growing segment in the domestic car market and its share in the overall SUV market has gone up from 16 per cent in FY16 to 49 per cent in FY19.
The venue, which also is the carmaker’s first offering in the segment, will compete with the likes of segment leaders Maruti Suzuki’s Vitara Brezza, Tata’s Nexon and M&M’s XUV300. “The Indian market is at the centre of Hyundai’s global growth plan and the launch of the Venue will strengthen our commitment to the Indian market and fulfill our promise of creating a happy life for our customers,” said SS Kim, managing director and chief executive, Hyundai Motor India. Venue is being launched in India before it is launched in the developed markets such as United States, Canada and Australia.
The company informed that Hyundai received 15,000 bookings of Venue, of which 64 per cent was for the petrol variant. Hyundai’s Venue comes with the company’s Blue Link connected technology, which makes it India’s first connected car. The carmaker’s subsidiary Hyundai AutoEver India has tied up with Vodafone Idea to offer a range of connected technology-related services in its other models as well.