Hyundai India is all set to debut their all-new MPV by 2016, which will rival segment leader Toyota Innova. Currently, they do not have a product to offer in this segment and are losing out on potential customers.
Top officials at Hyundai Motors have confirmed the styling and another aspects that their MPV will possess. So far they have not come up with a name for their upcoming Multi-Purpose Vehicle(MPV) for Indian markets.
Currently, taxi owners prefer Toyota's Innova over other products in the market. Personal vehicle owners prefer MPVs like Maruti Suzuki Ertiga and Honda Mobilio for more practical reasons.
Hyundai has a very strong followership in the Indian market, however, the absence of an MPV in their portfolio is hurting them. At this moment, they are present in every popular segment in Indian market except MPV category.
It is most likely that Hyundai will provide their soon to be launched MPV with both petrol and diesel engines. Most taxi owners would prefer the diesel option, however, personal users would opt for the petrol powered MPV.
Recently the Korean based manufacturer introduced its Creta compact SUV in the Indian market. This product has gained instant popularity and has boosted sales for Hyundai India considerably.
They are also exploring options of introducing another compact SUV in the sub 4-metre category. Hyundai would like to eat into sales which are currently dominated by Ford EcoSport and Mahindra latest product the TUV300.
Hyundai wants to be the top-seller in the Indian market and introduction of new products will help them. Indian vehicle buyer is preferring newer segments over traditional segments. They are opting for newer models which look and perform better than before.