Hyundai Eon launch may further dent Maruti’s share in India’s booming car market
Hyundai has been topping the charts. When last year its premium SUV Santa Fe was a hit, this time the hit auto is the cute little Eon. The countryâ€™s second largest car maker is planning to complete the domestic market with a line-up of Hyundais in small sizes.
Hyundai Motor India Limited (HMIL) is carving a niche in the small caer market this time by introducing its Eon this Thursday.
Arvind Saxena, director of sales & marketing in HMIL, says â€œThe way the Indian market is structured we will continue to focus on the compact car segment to bring in the volumes. But over the next two to three years, we will launch several products across segments to plug in the gaps and strengthen our presence in the Indian market.â€
Hyundaiâ€™s Santro takes up 16% of small car market share. With the introduction of Eon, Maruti Suzuki Alto seems to be in the danger of being pushed to the bottom. The reason is the pricing. While Eon is expected to come for around Rs 2.5 lakh (ex-showroom) and boasts a three-cylinder 814cc engine, Maruti Suzuki Alto costs upwards of Rs 2.32 lakh and comes in 800 cc and 998 cc engine configurations.
H W Park, president and chief executive officer, HMIL, said, â€œThe car will provide the best-in-class design, quality and technology to its customers.â€ His confidence rests on the specifics that Eon is wider and taller than the Alto. The car is further said to have fuel efficiency of 21.1 kmpl, as compared to 19.73 kmpl the Alto offers.
Even in premium hatchback category, Hyundaiâ€™s share is 27% and the refurbished Verna is stirring up the midsize segment. Hyundai is all set to dominate the market of all sizes.