Date:29/09/2004 URL: http://www.thehindubusinessline.com/2004/09/29/stories/2004092901150200.htm

Back Hyundai upbeat on response to Getz

R.Y. Narayanan

Coimbatore , Sept. 28

THE response to Hyundai's new hatchback `Getz' has exceeded the expectations of the company and it hopes that the new model would clock annual sales of 18,000 units compared with 12,000 units expected initially.

Speaking to Business Line here in connection with the launch of Getz in Coimbatore, Mr B.V.R. Subbu, President, Hyundai Motor India Ltd (HMIL), said the new model has received a `very encouraging response'. The company was earlier looking at a monthly average sale of 1,000-1,100 units. But at the moment, the "demand is running at about twice that number." Since the company was able to produce about 1,000 Getz in August itself, in the current month, he expected the sales to cross the 1,000-mark, though the car was formally launched only on September 10.

He said against the expected sales of about 8,000 units of Getz up to March next, the company would now actually go well beyond that number. While it would be difficult to specify the number of units the company is hopeful of selling annually, since the post-launch figures at times tend to be "misleading", HMIL expects sales in the region of 15,000-18,000 units a year as "distinct possibility".

He did not expect a diesel version of Getz being launched in the near future since the cost of CRDi engine itself worked out to about 10 per cent of the vehicle cost. It would take some time to manufacture the engine indigenously and the cost-economics to work out favourable, he said.

Asked whether the Getz would not be squeezed between the Tata Indigo Marina, priced in the Rs 4.24 lakh-Rs 5.19 lakh price range for its petrol and diesel versions and the Ford Fusion, expected to be priced at around Rs 5.5 lakh for its base model, Mr Subbu remarked: "I don't think so".

He said consumers looked at various aspects like `finesse' while buying a vehicle and `Getz scores very comprehensively' against some of its competitors.

He said Ford pitched its Ikon against Hyundai's Accent model and India is probably the only market where Ford probably started off with a price lower than Hyundai and `has to continuously reduce its price against Hyundai in order to survive in the market'.