Hyundai Targets Leadership Position In Utility Vehicle Market With Compact SUV Venue

April 18,2019

The much awaited SUV “Venue” from Hyundai was unveiled on Wednesday. Hyundai has set itself a target of gaining leadership position in the Indian SUV market in the next 12-18 months by overtaking Maruti Suzuki and Mahindra & Mahindra.

Last fiscal, in the SUV segment, Maruti Suzuki sold 2.64 lakh units ahead of Mahindra & Mahindra which sold 2.35 lakh units, Hyundai on its part sold 1.25 lakh units in the same period.

Hyundai is targeting sales of 1,00,00 lakhs Venue units annually to capture a third of the market share in the segment in the first year of the model’s launch. As per SS Kim (MD at Hyundai Motor India) the company plans to sell 18,000 to 20,000 units per month with both Creta and Venue put together.

Developed with an investment of over Rs 1,000 crore, the Venue will be powered by three different powertrains — a 1-litre turbocharged petrol engine with the dual clutch 7-speed transmission, a 1.2-litre naturally aspirated petrol engine and a 1.4-litre diesel engine. Advanced high strength steel (AHSS) and high strength steel (HSS) will make up for 69% of the vehicle to ensure its safety.

Hyundai Venue design has been largely derived from its elder sibling Hyundai Creta and will have a similar silhouette. It will also spot split DRL-headlamps which have been derived from Hyundai Kona and Santa Fe. On the back side, tail-lamps will house LED units in top-spec variants. The auto major has introduced its global technology BlueLink in the Indian market with the unveiling of the new model and has tied up with Vodafone Idea for network connectivity. Hyundai's BlueLink technology comes with 33 artificial intelligence and connected features, out of which 10 have been designed for the Indian market.

Hyundai Motor India plans to produce 7.44 lakh units in 2019 of which domestic sales is expected to account for 5.8 lakh units—a growth of 5% over 5.5 lakh units the company sold in 2018.

The Venue is the first of six utility vehicles Hyundai is developing for India, and these are planned over the next couple of years. It will be followed by next-generation versions of i20 Active and Creta.
Hyundai will be banking on four new launches in 2019. After Venue, it plans to introduce its first 100% electric vehicle, the Kona EV, followed by the new generation Grand i10 and a facelift of Elantra premium sedan.

#autojobs4u #automotivejobs #jobs #Autojobs #News #AutomobileIndustry #Hyundai #SUV

Author - Sree Raghuma G