Hyundai launches sedan variant Verna Transform

Hyundai Motor India Ltd (HMIL) on Wednesday launched a new variant of its mid-sized sedan, the Hyundai Verna. The car will be priced between Rs 6.56 lakh and Rs 9.22 lakh.

The new variant, Verna Transform, will come in two engine variants of 1.6-litre petrol and 1.5-litre diesel.

The company, which had sold 82,076 units of the old Verna, expects sales to grow by about 15 per cent in the current fiscal on the back new models as well as a revival in the car market.

“We would like to maintain our growth at the same rate as that of the industry. The industry is estimated to grow by 15-16 per cent and we will also grow by this rate,” Hyundai Motor India's Director (Marketing and Sales), Mr Arvind Saxena, told reporters at the launch.

Mr Saxena added that HMIL expects to sell about 2,000 units of the new Verna Transform every month.

HMIL plans to reduce its exports this year in order to meet the local demand. “The mix of exports will go down as the export markets have slowed down. We can meet the domestic demand. We have enough production to adjust,” said Mr H.W. Park, Managing Director, HMIL.

The company sold a total of 5.6 lakh units in 2009, which included 2.9 lakh units in the domestic market, while 2.7 lakh units were exported.

“The Chennai plant capacity is six lakh units and we can stretch it up to 6.5 lakh units. If the domestic market grows fast, we will reduce our exports. If both domestic and export markets grow, then we will think of our next destination, but not now,” added Mr Park.

Source: indiacar.com Source : Business Line (Online Edition) (6/24/2010)