Hyundai Motors Limited is looking forward to launching their new model in the Indian market. One of the new launches will be SUV model Santa Fe which will be launched in October 2010. Speaking on the launch Y K Koo, Senior Director, HMIL said “Santa Fe may be launched in the month of October and its price can be in the range of Rs 20 lakh to Rs 22 lakh which will be very competitive”.The SUV segment in India is expanding everyday but there are very few strong contenders. The Honda CRV comes with a hefty price tag and Toyota has temporarily halted bookings for Fortuner. Besides, the Chevrolet Captiva and Ford Endeavour are extremely popular owing to their diesel engines. As the release plans are gaining momentum, Hyundai Motors Limited is likely to price the vehicle at INR 20-22 Lakhs. The high pricing has created a stir in the automobile arena as there is speculation if such a pricing can be termed “competitive”.
Hyundai India has tried to enter the SUV segment with models like Tucson and Terracan in India. However it has not been successful. The launch of Hyundai Santa Fe will be its third attempt. The auto- giant is hopeful that the initiative will prove fruitful.
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