Auto major Hyundai Motor India has launched new variant of Elantra in Indian market in the price range of Rs 12.5 - 15.8 lakh. Fluidic Elantra 2012 is contender for car of the year in US market. Elantra comes in 7 variants including of four in diesel and three in petrol.
The company claims that it has received nearly 800 bookings for the new Elantra. The company has launched the premium version to take a firmer grip on the executive sedan segment. Elantra diesel 2012 will have a mileage of
22kmpl and the petrol version will offer average of 16kmpl. The petrol variant will be powered by 1797 cc engine while the diesel variant will have 1582 cc engine.
The company has been doing extremely well in the mid size segment and its facilities in India are working at good production levels to meet export demands. The company has delayed its Chennai diesel engine expansion plans as there is still no clarity about the government policy on diesel vehicles or diesel price deregulation.
Hyundai received good response for its Verna Fluidic launched in year 2011 in India. The car was having high demand and a waiting period after it was launched in summer of 2011.
The company will be competing with Toyota Corolla Atlis and Renault Fluence. As automobile companies worldwide are facing troubles due to economic turbulence and lower sales, they need to offer value for money to consumers to generate better sales volumes.
Recently, Toyota announced that it will increase it capacity in North American market. Nissan has also announced increasing its production in Indian and North American market.