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The company is planning to launch the model early next month.
Hyundai Motor India MD and CEO Unsoo Kim said it is the opportune time to bring in the model with the premium SUV segment, poised to grow at a robust pace. ”Tucson has been a global best seller for the company in 2021, winning the hearts and minds of over 7 million customers across the world since its inception. As the Indian market continues to evolve, we are witnessing high customer traction for Hyundai’s premium SUVs,” he noted. The company has sold 4.85 lakh units of the SUV globally last year.
The new Tucson has been developed to exude an innovative yet futuristic appeal, while also reflecting the company’s premium and upscale identity, Kim said. ”The new Tucson offers customers a space where luxury and technology organically intersect. The model will form the perfect expression of the company’s commitment to India, introducing an unmatched benchmark for this segment,” he added. The model will be sold through the company’s 246 Signature outlets spread across 125 cities. The company already sells i20 N Line and a few Alcazar trims from the network. In an interaction with PTI, Hyundai Motor India Director (Sales, Marketing and Service) Tarun Garg said the premium SUV segment currently stands at around 40,000 units a year and it is likely to grow by around 22 per cent CAGR to touch 55,000 units by 2025.
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Elaborating further, he said that the company has over 12 lakh Creta and Verna customers in the country who are looking to upgrade, and the new Tucson would be a ready solution for such buyers.
”Our market research suggests that many of these customers want to stick with Hyundai and they want a better proposition in terms of a premium product. We believe that the new Tucson will give us an opportunity to go back to these customers. So, there is a huge potential to be tapped,” he noted.
Garg said the introduction of Tucson is a significant step for the company and shows the South Korean company’s confidence in the evolution of the Indian market.
On the chip shortage, he noted that supplies were getting better.
Garg said that demand continues to be robust but various challenges like high inflation and the global geopolitical situation, continue to be a worry.
”So, we cannot say that we’re out of everything. And even though the semiconductor front all the things are eased out, there are still challenges in terms of managing variants, you know, so all those factors are definitely there,” he stated.
Garg said things were definitely improving on the production side and hopefully the company would be able to sustain it going ahead.
Due to chip shortage, the company’s backlog has gone up to 1.3 lakh units, but with improved manufacturing, the situation is expected to improve in the days to come.
The new Tucson comes with level 2 ADAS (advanced driving assistance systems) capability. Using an automated sensing technology with a camera and radar sensors, the model can detect a car, a pedestrian or a cyclist on the road. It also comes with 29 first-in-segment features, the automaker stated.