The Hindu Business Line : Hyundai unveils Getz at Rs 4.5 lakh

Mr B.H. Sung, Managing Director, Hyundai Motors India, with the President, Mr B.V.R. Subbu, at the launch of the Getz in the Capital on Friday. — Kamal Narang

New Delhi , Sept. 10

HYUNDAI Motor India Ltd (HMIL) today announced the launch of its premium hatchback model Getz. The Getz comes equipped with a 1.3 litre SOHC petrol engine and is available in two variants. The variants — GL and GLS - have been priced at Rs 4.5 lakh (ex-showroom, Delhi) and Rs 4.75 lakh respectively, the HMIL Managing Director, Mr B.H. Sung, said at a press conference here.

The company, which is in the process of ramping up its production capacity to 2.5 lakh units at its plant on the outskirts of Chennai, aims to sell 8,000 units of the Getz this fiscal. The Getz has a localisation content of about 67 per cent that would increase to about 80 per cent in six months. According to the company officials, the Getz falls in the premium hatchback or the B plus category, a segment between the compact car and mid-size car segment, which is expected to generate a fair amount of volumes in the near future.

By October-end, the capacity of the A2 line, on which the Getz is being produced along with other models including the Accent Viva, premium sedan Elantra and luxury car Sonata, would be increased to 2,000 units per month from the current 1,000 units, the HMIL President, Mr B.V.R. Subbu, said.

The company aims to sell a total of 2.2 lakh units this year, while its export earnings are likely to be to the tune of Rs 1,700 crore. ``We should sell 2.2 lakh units this year in spite of the three-month production blip,'' Mr Subbu said. HMIL had suffered a loss of production during the first quarter of the fiscal as the company was ramping up capacity. HMIL also aims to achieve a 20-22 per cent rise in sales turnover this year.

The company has invested about Rs 50 crore for the launch of the Getz, which would include upgradation of the A2 line. However, Mr Subbu clarified that there are no immediate plans to develop India as an export hub for the Getz. Interestingly, the Getz, which was launched in Europe last year, is only produced in India outside of Korea.

Meanwhile, Mr Sung said that keeping in view the growing demand, HMSI might look at a second phase of expansion by the beginning of next year. The expansion may consist setting up a new plant within Hyundai's premises near Chennai.

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