IndiaCatalog.com
India News
Search Web Directory
News Home
Hyundai launches Venue, to heat up competition in compact SUV segment
Posted on 22nd May 2019
Hyundai Motor India on Tuesday launched a sub-4 metre sports utility vehicle, Venue, which will be in direct competition with Maruti Suzuki’s Vitara Brezza, Mahindra’s XUV300 and Tata Nexon. Dubbed India’s first connected car, the Venue falls in a segment where the industry’s monthly sales are around 35,000 units.

While the average monthly sales of Maruti’s Vitara Brezza is around 14,000 units, Hyundai’s Creta, which is slightly higher priced, sells nearly 10,000. Mahindra XUV300, Tata Nexon and the Ford Ecosport make up for the remaining chunk in the category.

Price-wise, Hyundai has placed the product closest to Maruti’s Brezza. The starting price of the diesel variant of Venue is Rs 7.75 lakh, against Rs 7.70 lakh of Brezza. However, experts feel Hyundai will have an edge over Maruti as Venue is powered with a 1.4-litre diesel engine, while Maruti’s Brezza has a 1.3-litre engine. Further, Brezza is available only with diesel engine but Hyundai Venue has petrol options and that, too, with two choices — a 1.2-litre Kappa engine and a 1-litre turbo engine.

The petrol variant is available with a starting price of Rs 6.5 lakh and goes up to Rs 11 lakh. The top diesel trim comes with a price tag of Rs 10.84 lakh. The utility vehicle segment has seen a sharp increase in demand in the last five years and as a result, the contribution of this segment for car makers has phenomenally increased, also leading to a rise in their average selling prices (ASP).

Analysts believe multiple options, better features, elegant styling and enhanced safety quotient are driving the change in consumer preference to utility vehicles. Even as car sales have been declining since July 2018, the demand for utility vehicles during most months has been better than hatchbacks and sedans.

Hyundai Motor India MD & CEO SS Kim said while Indian consumers are price-sensitive when it comes to purchasing cars, the company wants to cash in on the shifting consumer preference towards utility vehicles. “Equipped with many first and best in segment connectivity features, Venue will become a personal sanctuary for customers,” he said.

Hyundai Venue, which was built with an investment of $100 million (over Rs 690 crore), is the first connected car with features like geo-fencing, speed alerts, SOS, panic notifications, destination sharing and road-side assistance. The company’s BlueLink technology comes with 33 artificial intelligence and connected features, of which 10 have been specially designed for the Indian market.Besides, all the cars from Hyundai Motor India will soon come with connected features. Hyundai Motor India national sales head Vikas Jain said the firm has plans to extend the connected features to other cars.

Related Companies: Hyundai Motor India Ltd.   

Other Latest News
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019

Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.

Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade.


Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point.

On a weekly basis, the local unit slumped by 32 paise.


LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19.

Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai).


Apollo Hospitals rules out further stake sale
Posted on 13th September 2019
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here.

World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Hyundai launches Venue, to heat up competition in compact SUV segment
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Hyundai launches Venue, to heat up competition in compact SUV segment

Most Read News

More India News

  India Web Directory
Business Profiles
Yellow Pages
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2026 IndiaCatalog.com
    All Rights Reserved
Privacy Statement