Hyundai doubtful about Tata Nano’s success

Hyundai doubtful about Tata’s Rs. 1 lakh car’s success

South Korean automaker Hyundai is facing massive challenge from Tata Motors in the Indian auto market for the second spot after Maruti.

Tata could get an edge with their upcoming Rs. 1 lakh car planned for launch sometime next year. Maruti has already said that they are doubtful about the success of such a car in the Indian market.

Now, Hyundai India’s Managing Director HS Lheem has said in a statement: “I want to wish the proposed players (Tata Motors) the best of luck but I have a lot of doubt.”

He also added that Hyundai currently has no plans to enter this segment which is being created below the Maruti 800 currently the cheapest car in India and perhaps the world.

Bajaj Auto however has other plans. The two wheeler giant has already said that they might consider launching a competing product if they face any challenge from the Tata’s upcoming car for their bikes. Bajaj has plans to launch new bikes which would cost just below the Rs. 1 lakh tag.