The sales slowdown is hitting passenger vehicle manufacturers hard as consumers are just not willing to put down their money on vehicles of their choice.
Hyundai Motor India, which launched the Venue SUV in May 2019, marking its entry into India’s high-volume and ultra-competitive compact SUV segment, has reported sales of 42,007 units in June 2018, down 7.3 percent year on year. While deliveries of the Venue have begun, the company will be looking to produce as many as it possibly can to cater to growing demand for the new model, possibly rejigging its production schedules for other Hyundai cars.
Banking on the Venue to kickstart sales
Since its launch on May 21, the Venue has already received over 33,000 bookings, with more than 200,000 evincing interest in the compact SUV, according to Hyundai. Priced from Rs 650,000 to Rs 10.84 lakh (ex-showroom, Delhi), the Venue is offered in four engine-gearbox combinations, which includes an 83hp, 1.2-litre petrol MT; a 120hp, 1.0-litre petrol MT/AT; and a 90hp, 1.4-litre diesel MT. The compact SUV is available in six trim levels – the E, S, SX, SX+, SX dual-tone and SX(O).
According to dealer sources, the Venue compact SUV has a waiting period of around six to eight weeks, depending on variants and engine- gearbox combination. In terms of engines, the most popular option appears to be the 1.0-litre petrol engine paired to the 7-speed DCT automatic gearbox. The 1.4-litre diesel is the second-most popular engine choice, while the 1.2 petrol is the least popular, owing to its rather basic equipment list. In terms of variants, both variants of the Venue AT, the S and SX+, seem to be in high demand. Among the MTs, it is the 1.0-litre petrol MT, which is demanded most in the SX trim.
The Hyundai Venue comes with an 8.0-inch touchscreen infotainment system, diamond-cut alloy wheels, push-button start/stop, keyless entry, wireless charging and the company’s Blue Link connectivity technology, to name a few.
On the export front, the Chennai-based manufacturer shipped 16,800 units, marking 9 percent growth (June 2018: 15,408).
Meanwhile, Hyundai is also going to launch the all-electric Kona EV on July 9, 2019. The all-electric Kona will be the carmaker’s first EV in India and is expected to be locally assembled.