After Creta, Hyundai India Plans Include Price Hike & New MPV
Only recently did Hyundai launch the highly-anticipated Creta compact SUV in India–known as the iX25 when first introduced at the Guangzhou Auto Show. Although its success can hardly be measured since it’s become available, its presence has already triggered multiple plans for the Indian market.
During the launch ceremony of the Creta on July 21st, the automaker revealed its plan to follow up this new B-segment CUV with two more models: a compact MPV and an SUV under four meters in length.
An MPV, a compact SUV, and a Price Hike: Oh My!
Both the Multi-Purpose Vehicle (MPV) and the sub-compact SUV would, according to current considerations by the company, be based on a new low-cost platform borrowing from the i10 and Creta. The MPV, being referred to as “IP,” would rival the Maruti Suzuki Ertiga and the Honda Mobilio. The sub-compact SUV will be in the lineup below the Creta. Little else is known at this time.
Another move by Hyundai–officially announced by the automaker four days after the Creta’s launch–was an immediate price hike on all Hyundai models except the Creta equaling $470 (Rs.30,000).
What reason did the company give? According to a Senior Vice President, it was necessary to handle the increase of input costs which were previously being absorbed by the automaker. While the increase may not amount to much, it’s clearly a reaction to the slowing sales the company has been experiencing.