South Asian Business news and information

Hyundai i10 is not the cheapest car in the world but it is an indication that Hyundai is taking the segment of small cars very seriously. You know that TATA and Nissan are in a race to bring out a sub $3,000 car in the Indian market. It seems that Hyundai is joining the race. Hyundai officials are contemplating the idea of making a sub $5,000 car.

Economic Times wrote:

Low-cost small vehicles seem to be flavour of the season in the auto industry. Korean major Hyundai is the latest to join the micro car bandwagon after Tata Motors and the Bajaj Auto-Renault combine. Hyundai Motor India’s (HMIL) parent Hyundai Motor Company (HMC) is developing low-cost cars and vehicles in the $5,000 (around Rs 2-lakh) price range at its Korean R&D centre. These vehicles will compete with rival car makers in India, China and other emerging markets.

I feel that it is a smart move from Hyundai. After all, India has one of the fastest growing auto markets in the world today. I am just surprised that big guns like Toyota and GM are not in the rat race of making very cheap cars yet.

Liked this entry? Then, why not support me? Just subscribe the feed of this blog at free of charge, Please.