Hyundai Motor India, whose Elantra sedan has lost a lot of ground to the Toyota Corolla, has announced the launch of its 2015 Elantra model. The new Elantra aims to set a higher standard in the premium sedan segment, the company says.

The Elantra was first launched in the Indian market in 2004. The current Elantra model was launched in July 2012 and raced to the top of its segment with over 4,000 units sold. But with a strong rival in the Corolla, 2014-15 sales were in the region of 3,000 units, down by 31 percent.

With the 2015 model, which is sportier and also has some interior changes, Hyundai hopes the Elantra can increase its market share in a segment that has halved from its high in 2012, around the time that Honda, the then market leader, withdrew the Civic.

The 2015 Elantra will have three petrol and four diesel variants with the base petrol starting at Rs 14.13 lakh and the base diesel at Rs 14.57 lakh, ex-showroom Delhi.

B S Seo, managing director and CEO, HMIL, said, “The Elantra has always been the trendsetter in its segment and is now set to offer high standard in the premium segment. The 2015 Elantra will delight our customers with its high-class appeal and agility. The Elantra, being a global model, is Hyundai’s first car and one of only 10 cars in the history of the auto industry to reach over 10 million sales globally.”

The Elantra currently accounts for about 17 percent of the executive car market which has players such as the Skoda Octavia and GM India’s Chevrolet Cruze.