New Delhi: Hyundai Motor India has launched a new version of its mid-sized sedan Verna at prices between Rs 10.89 lakh and Rs 17.37 lakh.
CEO Unsoo Kim said Verna has been one of the company's most iconic models globally. "The company has sold 4.65 lakh units of the sedan in the domestic market and also exported around 4.5 lakh units of the model to date. The new Verna would also be exported."
The 1.5 litre trims of the 6th generation Verna are priced between Rs 10.89 lakh and Rs 16.19 lakh. The 1.5 litre turbo petrol variants, which come with enhanced power, are priced between Rs 14.83 lakh and Rs 17.37 lakh. The model delivers fuel efficiency ranging between 18.6 to 20.6 km per litre, depending upon the engine options, said the company. The new Verna comes with 30 standard safety features including six airbags, 17 Level 2 - ADAS features, and over 65 connected car features.
Hyundai Motor India Chief Operating Officer Tarun Garg said the company aims to sell close to 40,000 units of the sedan this year, doubling volumes from 2022. Last year, the Hyundai sold around 19,000 Verna units.
"We believe that with a product like Verna, we have a winner in hand. It is now larger as compared with the outgoing model and comes with advanced technology like a level II ADAS system and other connected features. The company has already received close to 8,000 bookings for the model so far. The overall booking backlog of the company stood at 1.15 units," noted the executive.
He added that the overall sedan segment volumes grew to around 4.12 lakh units last year from 2.96 units in 2021. The mid-size sedan segment sales also grew to around 1.10 lakh units last year from around 82,000 units in 2021. "The sedan segment is witnessing growth in sales as new models are being launched, giving an option to buyers who seek comfort and performance in their daily commute. Globally, there has been a trend toward the SUV body style. India has also witnessed the same. Despite a strong pull towards the SUVs, a latent demand still remains for sedans and that is why we have seen volumes grow in the segment."
He further said that the sedan segment accounted for 10.8% of the overall passenger vehicle segment last year, an increase from around 9.5% in 2021. "We have seen demand for the diesel trims come down in this segment. It is shifting to the SUV segment, where diesel remains strong."
The new model is competing with Honda City, Skoda Slavia, Volkswagen Virtus, and Maruti Suzuki Ciaz.