Maruti and Hyundai developing low-priced entry-level cars
Maruti Suzuki, India’s largest car company, is launching a sub Rs 2.5 lakh car in the next 18 months. This is the first time Maruti is looking at launching an entry-level car since the debut of Maruti 800 in the 1980s.
Hyundai Motors, India’s second-largest car company, too is developing a car called H800 that will debut on Indian roads soon. This is the first time the Korean auto major is looking at setting a new floor price for its cars. Currently, Hyundai’s entry-level car is Santro available at a little over Rs 3 lakh. “The opportunity is enormous. This is the largest segment [by volume] in India’s car industry today and in times to come,” says Arvind Saxena, director, sales & marketing, Hyundai Motors India.