Hyundai launches its first compact SUV to take on Maruti’s Brezza1 min read . Updated: 21 May 2019, 02:36 PM IST
- Hyundai’s Venue comes with the BlueLink connected technology and will offer customers range of facilities
- As of now Hyundai received 15,000 bookings and of which 64% came with a request for petrol engine
In its quest to become biggest manufacturer of utility vehicles in India, Hyundai Motor India Ltd launched its first compact utility vehicle, Venue, in the domestic market. The compact SUV segment has been the fastest growing in terms of sales in the last three fiscal years.
Venue is a global product of the South Korean manufacturer and is being launched in India before it is launched in the developed markets. Subsequently Hyundai Motor Company will launch this vehicle in markets like United States, Canada and Australia.
Hyundai’s Venue comes with the BlueLink connected technology and will offer customers range of facilities. The company claims that the new compact utility vehicle is the first connected vehicle to be launched in India.
As of now Hyundai received 15,000 bookings and of which 64% came with a request for petrol engine, indicating that customers are looking beyond diesel engines when it comes to SUVs.
As of now the compact SUVs occupy 49% of the overall utility vehicle segment, a significant jump from just 16% in FY 16.
Recently Mahindra and Mahindra Ltd launched XUV 300 and Tata Motors Ltd also launched its product Nexon in the same segment, indicating the expectation of the car makers from the compact SUV segment.
In the current financial year Hyundai has also increased its manufacturing capacity by 50,000 units and have phased out its entry level hatch back Eon which will also give the company additional room to accommodate the new product. As of now Hyundai’s capacity utilisation rate is more than 95%.
Hyundai is expected to offer the BlueLink connected technology in future and some of the current products as well.
According to S S Kim, managing director and chief executive, Hyundai Motor India, Venue will be the India’s first connected sports utility vehicle equipped with the Blue Link Connected Technology. Hyundai will create a new benchmark in the segment and demonstrate Hyundai’s unwavering promise of offering the highest quality and feature rich products to the customers.
“The Indian market is at the centre of Hyundai’s global growth plan and the launch of the Venue will strengthen our commitment to the Indian market and fulfill our promise of creating a happy life for our customers," added Kim.