By Hyundai introduced the Exter in the micro-suv segment to take on the Tata Punch which is currently selling at an average of 10,000 units per month. The Exter is priced very aggressively as the entry-level model starts at Rs. 5.99 lakhs which is Rs. 30,000 more than the entry-level variant of Grand i10 Nios hatchback, which it is based on but the top-end models price gap is slightly more.
Hyundai COO Tarun Garg is not worried whether the launch of Exter sales will affect Grand i10 Nios as both these models appeal to similar set of buyers. Even though customers are changing from hatchback to SUV, the latter has a market for its own. Tata Motors proved that both Tiago and Punch can sell from almost similar price range and Hyundai is also eying for that same segment.
Tarung Garg also confirmed that the company won’t reposition the Grand i10 Nios at a lower price range by stripping down features to make it appeal to a different audience as they are not competing against Maruti Suzuki in the high volume low profit entry level segments. The Exter is off to a great start in the Indian market thanks to the features, space and efficient engines.
