Hyundai expects July sales to rebound

The company said about 56 per cent of bookings for Creta were diesel and Venue and Verna also saw one-third of bookings happening for diesel engines

By Author  |  Business Bureau  |  Published: 14th Jul 2020  9:33 pm
Hyundai
Hyundai Motor India MD and CEO S S Kim with the all new SUV Tucson.

Hyderabad: Hyundai Motor India, which had launched the all new Creta just one week before Lockdown 1.0 was announced, is betting big on the growing demand and hopes to bounce back to last year’s level. The company informed that most of its portfolio is either new or refreshed and its focus on online bookings platform is going to help regain its position as last year.

At the unveiling of the all new version of premium SUV Tucson priced at a starting price of Rs 22.3 lakh (all India price), Hyundai Motor India director (sales, marketing and service) Tarun Garg said, “We anticipate the demand scenario for July to reach 90 per cent of July 2019 level even as we have seen that we have reached 75 per cent level in June as compared to last year level. We are seeing positive signs of demand from tier-2 and 3 cities.”

Hyundai is planning to start the third shift at its factory, he said. However, a second phase of lockdown in a few States next week may impact demand going forward.

The company said about 56 per cent of bookings for Creta were diesel and Venue and Verna also saw one-third of bookings happening for diesel engines. “So a good diesel engine will be preferred even by sedan customers. In SUVs, the penetration is much higher and I can say there is strong diesel pull in sedans as well,” Garg said.

He said that there is a definite demand for personal mobility and customers are shifting from shared mobility. “Entry level hatches are seeing good traction along with subscription models and pre-owned cars gaining interest,” he added.

The new Tucson comes with BS-VI compliant petrol and diesel powertrains. The SUV now comes with 2 litre diesel engine mated to a 8 speed automatic transmission. The 2 litre petrol trims feature six speed automatic transmission.


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