BUSINESS

Hyundai’s Exter mini SUV has a starting price of Rs 5.99 lakh

With the debut of the brand-new Exter on Monday, Hyundai Motor India entered the country’s entry-level SUV market. Exter’s starting costs range between Rs 5.99 lakh and Rs 9.31 lakh (ex-showroom).

The vehicle, which directly competes with Tata Motors Punch, is equipped with a 1.2-liter petrol engine that is available in both manual and automatic transmissions.

The five-speed manual trims, which have a 19.4 km per litre fuel economy, range in price from Rs 5.99 lakh to Rs 9.31 lakh.

The five-speed automatic version has a price tag of Rs 7.96 lakh and is advertised as having a 19.2 km per litre fuel economy.

The cost of the CNG trim is Rs 8.23 lakh, and it has a 27.1 km per kilogramme efficiency.

Hyundai Motor India MD and CEO Unsoo Kim remarked during the unveiling that the company has now transitioned into a full-range SUV producer in the nation with the introduction of Exter.

He said that the business spent Rs 950 crore developing the concept.

In order to demonstrate Hyundai’s dedication to the Indian market, Kim said the company recently announced a Rs 20,000 crore investment stretched over 10 years in order to increase manufacturing capacity, roll out electric vehicles, and establish a battery pack factory in Tamil Nadu.

According to him, the business wants to increase the capacity of its Chennai-based plant’s yearly output to 8.5 lakh units from the present 8.2 lakh units.

Tarun Garg, the COO of Hyundai Motor India, said that the vehicle will boost the company’s entire SUV lineup while bringing in more sales.

Our seventh SUV in the nation is called Exter. Now that we have this, we are the only firm with goods in each of the six SUV sub-segments, he said.

He described how the SUV market has expanded, noting that it now makes up 46% of all passenger car sales in the nation.

According to the corporation, the SUVs’ share of total sales has increased from 34% in 2019 to 54% as of now, he noted.

Verna, Creta, and Tucson are three sectors in which we have attained leadership, according to Garg.

The carmaker now offers the Venue, Creta, Alcazar, Tucson, Kona Electric, and Ioniq 5 in the SUV category.

With the introduction of Exter, Garg predicted that sales in the subcompact SUV market might reach 20,000–22,000 units per month.

Currently, Tata Punch sells around 11,000 units each month. Model sales were 1,29,895 units last year, while in the period from January to June this year, they were just 67,117 units.

“Exter will bring in so many more new customers for Hyundai and the entire segment benchmark will go up,” added Garg.

The Exter has a 391-liter trunk, a 185-mm ground clearance, a dash camera with twin cameras, an electric sunroof, six standard airbags, and a number of linked technologies.

Regarding the sales prognosis for the remaining fiscal year, Garg said that things are looking up now that the chip scarcity is mostly resolved.

According to him, the carmaker increased its revenue by 10.5% in the first half of this year.

“I believe that everything is going well. And that’s without include Exter. Things should improve moving ahead now that a strong volume model is on the way, according to Garg.

In comparison to the same period last year, when Hyundai sold 2.67 lakh units, 2.96 lakh units were sold at same time this year.

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