The brand aims to tap into the UV segment which accounts for 21% of the market.
As reported by Indian Autos Blog earlier this year, Hyundai India is indeed working on an MPV, but a launch is unlikely to take place next year. Instead, Hyundai will be looking to introduce their MPV in 2017, with India being a key market.
According to a report on the Economic Times, the MPV in question is codenamed 'IP'. The people-carrier will target the private customer, and will rival products like the Honda Mobilio, Maruti Ertiga and Renault Lodgy (which goes on sale in India today).
Sources confirmed to Indian Autos Blog that the MPV will be powered by petrol and diesel engines paired to a manual transmission as standard. An automatic gearbox could also be on offer.
The utility vehicles segment in India accounts for 21 percent of the overall market, and at the moment, Hyundai is a bit unrepresented in this segment (the brand sells the Santa Fe in the premium SUV segment). The Korean car maker will increase its focus in the UV segment with the launch of the ix25 compact SUV (expected to launch in the festive season this year) and the 'IP' MPV in 2017.
Rivals: Maruti Ertiga, Honda Mobilio, Renault Lodgy, Toyota Innova, Chevrolet Enjoy
Expected Price: INR 7-11 lakhs, ex-Showroom
Launch date: 2017
Hyundai Hexaspace concept - Image Gallery
[Source - Economic Times]