Hyundai Motor India on Tuesday introduced a new version of its mid-sized sedan Verna in the country priced between Rs 10.89 lakh and Rs 17.37 lakh (ex-showroom), hotting up the competition in the segment.
The new Verna competes with the likes of Honda City, Skoda Slavia, Volkswagen Virtus and Maruti Suzuki Ciaz in the domestic market. The 1.5 litre trims of the 6th generation Verna are priced between Rs 10.89 lakh and Rs 16.19 lakh while the 1.5 litre turbo petrol variants, which come with enhanced power, are priced between Rs 14.83 lakh and Rs 17.37 lakh (all prices ex-showroom). As per the company, the model delivers fuel efficiency ranging from 18.6 to 20.6 km per litre, depending upon the engine options.
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One of iconic models
Hyundai Motor India MD and CEO Unsoo Kim said Verna has been one of the company’s most iconic models globally. He noted the company has sold 4.65 lakh units of the sedan in the domestic market and also exported around 4.5 lakh units of the model till date.
Kim said the new Verna would also be exported. Hyundai had first launched the Verna brand in India in 2006. The automaker said the new Verna comes with 30 standard safety features including six airbags, 17 Level 2 – ADAS features and over 65 connected car features.
In an interaction with PTI, Hyundai Motor India Chief Operating Officer Tarun Garg said the company aims to sell close to 40,000 units of the sedan this year, doubling volumes from 2022.
The country’s second largest carmaker had sold around 19,000 Verna units last year. “We believe that with a product like Verna, we have a winner in hand. It is now larger as compared with the outgoing model, comes with advanced technology like level II ADAS system and other connected features,” Garg said. He noted that the company has already received close to 8,000 bookings for the model so far. The overall booking backlog of the company stood at 1.15 units.
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Sedan segment growing
Garg noted that the overall sedan segment volumes grew to around 4.12 lakh units last year from 2.96 units in 2021. Similarly, the mid-size sedan segment sales grew to around 1.10 lakh units last year from around 82,000 units in 2021.
He said the sedan segment is witnessing growth in sales as new models are being launched, giving an option to buyers who seek comfort and performance in their daily commute. “Globally, there has been a trend towards the SUV body style. India has also witnessed the same. Despite a strong pull towards the SUVs, a latent demand still remains for sedans and that is why we have seen volumes grow in the segment,” he stated.
The sedan segment accounted for 10.8 per cent of the overall passenger vehicle segment last year, an increase from around 9.5 per cent in 2021, Garg said.
Earlier this month Hyundai said it has initiated a process to acquire General Motors India’s Talegaon-based manufacturing plant.
(With Agency inputs)