The Hyundai Motor Company has now began selling the new Eon hatchback. This new version of Eon is priced even lower than the Santro, company’s cheapest vehicle to date, selling for around a mere Rs. 280,897. This is sure to give Maruti a run for their money as it has previously held the record for India’s best-selling car, with Alto, which sells from Rs. 235,413.
Eon hatchback is sure to cause some major issues for the Maruti Suzuki clan, especially since it is still trying to resolve the labor issues at its production plant. Hyundai is expected to reveal the new vehicle for the first time this week at a press conference which is by invitation only.
Maruti Suzuki had around 43 percent of all the sales of passenger vehicles for the past six months, while Hyundai has only around 20 percent. The head of sales for Maruti Suzuki refused to comment on the new Eon hatchback until he has had a chance to see it. He commented that everyone has always known that India is a good market for small vehicles, and now everybody ts to be a part of it.
The deliveries of vehicles are expected to grow slowly due to the fact that the India Reserve Bank has recently raised its interest rates 12 different times, since last year in March. This was done in an attempt to slow down the inflation, and it hugely brought down the demand for vehicles because in India around 80 percent of all vehicles purchased are funded by loans.
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