New Delhi: Higher interest rates may slow down sales but the Indian Auto market is buzzing with new launches.
The first day of the new financial year has seen two new models drive out, from fiat and Hyundai. The 1.1 litre segment is where the action is all about.
Interest rate hikes are making both consumer and automakers sweat this summer. But manufacturers are betting on new launches in the small car segment to drive growth.
The Hyundai Getz has a new zing in its ‘Prime avataar’ and the Fiat's Palio rolled out a new hatchback version from its Ranjangaon plant.
Both come with a 1.1 litre engine, which gives them the excise benefit. This segment makes up more than 50 per cent of the Indian car market.
In order to reduce prices of Getz, Hyundai has launched its new version with a 1.1 litre engine same that is used in Santro. Hyundai will also launch the diesel versions of both Getz and Santro.
Hyundai Motor India MD HS Lheem says, “We will launch the diesel version of Getz in the early part of the second half of 2007.”
Getz prime is priced at Rs 3.89 lakh while the price of Fiat's palio 1.1 will be revealed when it is commercially launched in Mumbai on the fourth along with 1.6L Fiat Palio Stile car.
That's not all, the small car segment will see GM launch the Chevy Spark and Hyundai bringing in the Santro twin model code named PA.
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