Hyundai Santro to make a comeback later this month in India
CHENNAI: South Korean automaker Hyundai on Tuesday said it will bring back its once popular hatchback, Santro, in a new avatar in India later this month.
The company, which operates in the country through its wholly-owned subsidiary Hyundai Motor India (HMIL), had discontinued the previous Santro model in December 2014.
Hyundai has invested over $100 million on the all-new Santro, which was developed under the code name AH2, over the last three years.
The new car will be powered by a 4-cylinder 1.1 litre petrol engine. It will also be available with automated manual transmission (AMT) and factory-fitted CNG fuel options.
HMIL managing director and CEO YK Koo said the company decided to name the “new family car” as Santro following an overwhelming response from customers in an online poll.
“The AH2 retains the values of the Santro in the form of a ‘modern Tall Boy’ car,” he said here.
The company will open online pre-bookings for the new Santro from October 10-22 with ₹11,100 as booking amount for the first 50,000 customers.
“We will have the global premiere of the all-new Santro on October 23 in New Delhi,” Koo told reporters here.
When asked about sales expectations from the new Santro, he said, “In the domestic market we are looking at around 8,000 to 10,000 units per month.” The all-new Santro will compete with the likes of Maruti Suzuki’s Wagonr, Celerio and Tata Motors’ Tiago in the mid-compact segment which is about 30,000 units a month.
“With the new Santro we are looking at about 25-30% of that segment,” he said, adding that the company is re-entering the mid-compact segment which it vacated when Santro was discontinued four years ago.
“The target for the new Santro is first time buyers, specially in tier II and III towns and rural areas with metros contributing for additional purchases.” From exports, which will begin from February next year, Koo said HMIL is looking at 20,000 to 30,000 units annually.