 "Hyundai i20")
Hyundai Motor India is seeking to address a niche, yet growing segment of buyers who are performance-oriented through its N Line range of products, according to company COO Tarun Garg.
The company, which currently offers the N Line range on its two models -- i20 hatchback and compact SUV Venue -- that has styling and performance upgrades compared to the normal offering, on Monday also introduced its mid-sized SUV Creta priced between Rs 16.82 lakh and Rs 20.29 lakh (ex-showroom Delhi).
"In 2021, we sold 3,196 (units of ) N Line. In 2022, we sold 7,560 N Line and in 2023, we sold 9,718 N Line...overall 22,000 N Line....the numbers are increasing. At the same time, frankly, I don't think volume is an objective in N Line. We understand it's a niche market," Garg said in an interaction.
On the objective behind introducing more products under N Line, he said, "We believe even if there's a niche, I think it's our responsibility to give the set of customers who are looking to have a very unique car for themselves, a very unique experience for themselves, a product."
Garg said the average age of N Line customers is 36 years as compared to Hyundai's other customers of the normal range which is at 38 years.
Also, he said there's a lot of halo effects on the overall brand.
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"Although we have sold 22,000 (units of N Line) I believe many more are inspired because when this car is seen on the roads, people are inspired by those sporty looks and their desire to own a car is also there," Garg claimed.
When asked if more products would be launched under the N Line, including the Verna sedan, he said, "We had promised that every one or two years we will get one N Line. Three cars are there. We will see if there's an opportunity in the future but as of now there is no plan to have the N Line in Verna."
Speaking at the launch of the Hyundai Creta N Line, Hyundai Motor India Managing Director and Chief Executive Officer, Un Soo Kim said it will strengthen Hyundai's N Line portfolio and profoundly resonate with the ambitions of new-age Indian buyers capitalising on the popularity and legacy of the brand Creta.
"We are confident that with the launch of Hyundai Creta N Line, we will further elevate fun driving experiences and fulfil the requirements of thrill-seeking-adventure enthusiasts," Kim added.
India is a focal market for Hyundai, and the company's commitment to customers remains unwavering, he noted.
"As we look forward to the next decade of progress for Hyundai Motor India, we will make strategic investments towards increasing production capacity, setting up new manufacturing units, democratising EVs, introducing products and technologies matching customer and nation's objectives, and undertaking initiatives for the betterment of society," Kim stated.
The Creta N Line is powered by a 1.5-litre Turbo GDi Petrol engine with a six-speed manual transmission and seven-speed Dual Clutch Transmission (DCT).
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
