India would be missing a luxury sedan on its roads. Hyundai Motor India announced that it would stop the production of the luxury sedan “Elantra”. It is said that since the past few months, the sales had gone down and the company was selling Elantra in single digits. A plan to launch another model in its place is in the pipeline.
The competitor models for Elantra include Honda Civic and Toyota Corolla. The Elantra was launched around four years back and had placed itself in a very segment regarding sales, keeping the number at around 2000 cars per month. Elantra was advertised as ‘India's First Performance Luxury Sedan’. It had a local component content of around 50%.
It is said that the company is planning to re-work its strategy for another premium luxury sedan, the Sonata. More focus would be laid on effectively advertising this car from now on. According to sources, Sonata sold about 60 units a month, despite the fact it should be ideally selling 100 units. The company’s second plant has been constructed and finishing touches are being given to its new hatchback i10.
