New Delhi: South Korean carmaker Hyundai Motor India has launched its Venue with mid-life-cycle upgrades. The company has received about 15,000 pre-bookings for the new model. However, there has been a backlog of 25,000 units for the old Venue. Hyundai India will clear the backlog of the old model first, a company official said.
“Hyundai has a total backlog of 135,000 units across its model range, owing to the shortage of semiconductors in the industry. We have conveyed to the new Venue customers that the model comes with a waiting period of three months,” Tarun Garg, Director (Sales, Marketing & Service), Hyundai Motor India told ETAuto on the side-lines of the launch of its upgraded compact SUV.
“Our priority is to clear the backlog of the old model. Some of its customers have converted their purchases from the old model to the new,” he said.
On Thursday, the carmaker launched the upgraded Venue at an introductory price of INR 7.53 lakh, which can go up to INR 9.99 lakh (all prices, ex-showroom). Available in three powertrain options of Kappa 1.2 MPi Petrol, Kappa 1.0 Turbo GDi Petrol and U2 1.5 CRDi Diesel, the model comes with 11 first in segment features and over 40 changes in terms of design compared to the old Venue.
First launched in the Indian market in May 2019 with a starting price of INR 6.50 lakh, Venue is a sub-4 meter compact SUV competing with the likes of Maruti Suzuki Vitara Brezza, Tata Nexon, Mahindra XUV300, Kia Sonet, and Renault Kiger.
Garg said that in spite of the semiconductor shortage, the consumer demand remains strong in the Indian passenger vehicle market.
About rival Tata Motors taking over the No 2 position in the industry two times in six months, he said, “We are a long-term player and we have no reasons to believe that we will not do good. We will do well, make all efforts not only to give volumes, but also to make sustainable offerings to the customers. We have never believed that our efforts or identity is limited to one or two months. We have to look at a much more stable regime.”
Hyundai’s new Venue is available with 7 color options, including 1 dual tone option. The company said it has upgraded the design elements in the back seat to increase the knee room, legroom and thigh support. The model now comes with a reclining function in the rear seat back rest, ambient sound of nature, 12 languages, air purifier and over 60 bluelink connected features.
According to Garg, the company’s strategy to provide all three fuel types has helped it sustain. “In the entry-level segment, Hyundai provides petrol and CNG; in SUVs, we have petrol and diesel; for electric we offer the Kona and will soon bring the Ioniq 5.”
About the upcoming new models which are expected to compete against the company’s Creta, the Hyundai official said, “Competition always brings choice for the customers. Hyundai Creta is a cult brand and our confidence in it continues to be very strong.”