Hyundai ix25 compact SUV to have 90% localization in India, competitive price - Report
Pricing will surprise the market.
Hyundai Motor India Limited (HMIL) couldn't have asked for a better 2014: The company launched two mass-market products in the Xcent and Elite i20, and the latter has garnered over 60,000 bookings not to mention the coveted Indian Car of the Year Award (ICOTY).
The Korean manufacturer is prepping for an equally aggressive 2015, as it has lined up two products in the crossover/compact SUV segment. The crossover will be based on the Elite i20, and is expected to launch early next year, while the compact SUV is Hyundai's ix25 which went on sale in China a couple of months ago.
Speaking to the Financial Express, Mr. Rakesh Srivastava, senior vice-president, Sales & Marketing, HMIL, said that the company targets 90 percent localization with these new models, and that they (HMIL) will "surprise the market" with prices.
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Pricing will indeed be key for the ix25, as it measures 4.27 meters in length, and as a result can't claim excise duty benefits applicable to passenger cars under 4 meters in length. The ix25's most important rival will the Renault Duster, which is priced until INR 12.99 lakhs, ex-Showroom, New Delhi for the AWD variant.
Competitors: Renault Duster, Mahindra Scorpio, Nissan Terrano, Ford EcoSport
Expected price in India: INR 8-10 lakhs ex-showroom
Launch Date: 2015
[Source - Financial Express]