Hyundai, the Korean car maker giant has been in the news for their latest fluidic design philosophy that its new cars are adorning. It competes directly with brands like VW , Honda , Renault and Nissan in the premium hatchback segment whereas it competes with Maruti Suzuki in the volume segment which is the entry level hatchback sedan segment in India. Now the company is planning to enter into a new segment which it is looking for bringing in more volumes under the brand.
The Hurriyet Daily News has reported that Hyundai is developing an all new i10 based compact sedan at its R&D facility in Turkey. The Compact segment is something which is heating up in almost every emerging market, be it the Compact Sedan segment or be it the Compact SUV segment with almost very company lining up their products to enter these highly competitive yet profitable segments.
The second generation of the i10 shall be used to spawn a compact sedan which will start getting produced at the Izmit factory by the time this year ends. Hyundai will be investing in US$1.1 billion (RM3.35 billion) in the northwestern Turkish province of Izmit to make it a hub for small car production of the company and of the forecasted amount, about 30 percent of it has been invested so far.
“As part of the same platform we can easily produce a sedan, so as soon as we release the other model we will begin to work on sedan production.” is what was said by Hyundai Assan’s (JV between Hyundai and Turkey’s Kiblar Holding) chairman Umit Karaarsalan. The next gen i10 is set to debut at the Frankfurt Motor show later this year and shall come with a host of engine options.
Hyundai is also investing heavily in their Chennai facility to ramp up production according to some media reports and shall be the base for exporting cars to other countries. The upcoming Verito CS, Honda Brio Amaze and the Manza CS are all ready to lock horns with the segment leader Maruti Suzuki Dzire and with Hyundai entering the ring, the fight for the last man standing is about to get ugly.
Also Read: Next Gen Hyundai i10 Spotted in India