Hyundai launches Elite i20 at Rs 4.9 lakh

Hyundai Motor India Ltd (HMIL) on Monday launched Elite i20, priced between Rs 4.9 lakh and Rs 7.67 lakh, in India. The firm is looking at growing domestic sales by eight per cent to 410,000 units in 2014. The second generation i20 Elite will compete with the likes of Maruti Suzuki's Swift and Volkswagen Polo in India.

HMIL has stopped exports to the European market to free manufacturing capacity for new cars the company is launching in the Indian market. Models which are specifically manufactured for European countries would now be exported out of Hyundai's facilities in Turkey and Czechoslovakia.