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Thursday, 13 October 2011

Cheapest Car are added by Hyundai India Lineup in Bid to Loosen Suzuki’s Grip

Hyundai_eon
Hyundai Motor Co. , poised to earn the most profit among Asian carmakers this year, will step up its campaign to weaken Suzuki Motor Corp.’s loosening grip on India’s automobile market with a new hatchback.

The Seoul-based company today starts selling the Eon, which Hyundai has said will cost less than its cheapest model, the 280,897-rupee ($5,700) Santro. Maruti Suzuki India Ltd. (MSIL)’s Alto compact, the nation’s best-selling car, starts from 235,413 rupees in New Delhi.
Hyundai, led by President Chung Mong-Koo, has gained global market share of Toyota Motor Corp. and Honda Motor Co. as a coil of Japanese car from a strong yen and disruption resulting from the earthquake record that has devastated the country in March. The move increases the pressure on Maruti Suzuki, which has seen its share of Asia in the third biggest drop in the automotive market faces competition mounting and a strike is hampered output.Vcommindia News

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