Hyundai India aims to launch a USD 3500 car

Hyundai India aims to launch a USD 3500 car

Hyundai Motor India has said that their new small car would be priced at around USD 3500 price point.

This new model would take on the upcoming Tata Nano which would be priced starting at around USD 2500 in the Indian market. The company however denies that they are developing this new car as a challenger to the Nano.

A company representative said: “It will take at least 4 years to develop the car and we think we will be able to introduce this car by 2012 for Indian market.”

Hyundai added that they are currently deciding on whether to raise the prices of their existing models in the market as the raw material costs have gone up in the recent months.