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| Car makers betting on premium hatchback to drive growth |
| Vijay Karthik/ PTI / Chennai Aug 12, 2009, 10:31 IST |
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Auto majors are pinning their hopes on new launches in the premium hatchback segment to give the much needed push for reviving the industry in the midst of the economic downturn.
In the last few months, the country witnessed an array of launches in the price range of Rs 3.5 lakh to Rs 7.5 lakh, revving up the country's car market.
While Honda came out with its much awaited premium hatchback 'Jazz' from its stable, Italian car major Fiat launched its premium small car 'Grande Punto' in both petrol and diesel variants.
The country's leading auto manufacturer Maruti Suzuki also launched its 'Ritz', which is expected to heat up the competition. The country's second biggest car maker Hyundai Motor India launched the upgraded version of the 'i10', Hyundai 'i20' in this category last year.
"We were planning to sell 700 units of i20. But we have been selling 4,000 units per month and already 60,000 units have been sold in the last 12 months," Hyundai Motor India Managing Director H S Lheem told PTI.
According to industry experts, premium hatchback segment largely comprises Ritz, i20, Fabia, Jazz and Grande Punto.
Lheem was of the view that it was not only the attractive price of the vehicle that made it to be a 'best seller' but due to other auto-makers pricing of their cars.
Hyundai Motor India reported a 53.94 per cent jump in domestic passenger car sales in July at 23,193 units as against 15,066 units in the same month of 2008.
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