South Korean automaker Hyundai Motor Co. Ltd. on Tuesday launched the Grand i10 Nios in India priced between Rs 4.99 lakh and Rs 7.99 lakh, ex-showroom Delhi.
The company, which is present in India via a wholly-owned subsidiary, has introduced the model with both petrol and diesel engines. The petrol variants, with manual and automated manual transmission, are priced between Rs 4.99 lakh and Rs 7.14 lakh. Diesel trims, including manual and automatic variants, are priced between Rs 6.7 lakh and Rs 7.99 lakh.
The Hyundai Grand i10 Nios claims to have a fuel efficiency of 20.7 km/litre for the 1.2-litre petrol manual variant and 20.5 km/litre for the AMT version. The 1.2 litre diesel manual and AMT variants have a fuel efficiency of 26.2 km/litre.
According to Hyundai India Chief Executive Officer SS Kim, the Grand i10 Nios is a car made in India for the world.
"The launch of Grand i10 Nios will stand for our commitment to the Indian market and fulfil our promise of creating a happy life for our customers," Kim, who is also the managing director of Hyundai India, said at the launch of the car in Delhi.
The company expects to sell around 7,000 units of the model to begin with. It will also continue to offer the Grand i10, which currently sells over 10,000 units a month.
Kim believes Grand i10 Nios will further enhance Hyundai's portfolio in the compact car segment, which accounts for over 50 percent of the total passenger vehicle sales in India. He is also banking on the car to help the company grow its market share, which currently stands at 19.4 percent.
"We still believe that in the next five years, the segment will be the dominant segment in Indian car market," he said.
The Grand i10 Nios will target millennials while the existing Grand i10 would be offered for customers in Tier II and III cities, where there is still demand for affordable feature-rich compact cars.
Till date, Hyundai has sold around 2.72 million units of Grand i10 across the world.
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