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Hyundai unveils new Sonata variant, to invest $600 million by 2007

Hyundai unveils new Sonata variant, to invest $600 million by 2007

Author | exchange4media News Service | Thursday, Aug 18,2005 7:22 AM

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Hyundai unveils new Sonata variant, to invest $600 million by 2007

Hyundai Motor India on Wednesday launched the all-new fifth generation Sonata – the Sonata Embera – and also revealed that it would invest $600 million by 2007 to introduce new upgraded models in each of the segments.

Sonata Embera is priced at Rs 13.69 lakh for manual transmission and Rs 14.59 lakh for automatic transmission (ex-showroom Delhi). It is armed with a 2.4 litre, four cylinder, all-aluminum VTVT (Variable Timing Valve Train) engine, with a power of 165 ps@ 5,800 rpm, which ensures quick response and robust acceleration. The newly designed lightweight engine block has helped achieve fuel efficiency levels better than the current model of Sonata.

Launching the new Sonata, Hyundai Motor India MD S S Yang, said, “Hyundai engineers toiled for over three years to come up with a car that meets the aspirations of the global citizen. It has received good reviews in the US and European markets, and is now all set to enter the Indian market.”

“There has been no specific investments made for the Sonata Embera,” Hyundai Motors India, President, BVR Subbu said, asserting that the company planned to sell 125 cars a month and was well in line to achieve the baseline figure.

Elaborating on Hyundai’s plans of expanding the portfolio, Subbu said, “With an investment of $600 million between now and 2007, we should have new upgraded models in each of the segments. In some cases, it would compliment, and in other cases it would replace the existing models.” He further said that the new models would be unrolled in the A2, A3 and A4 segments.

Asked if there was a replacement scheme that was being introduced for the current Sonata owners, he said, “We have been working on replacement schemes, and our finance partners are looking at creating structures, which will vary from city to city. It will not be an omnibus scheme and will depend on how the cars are maintained. It will be announced in three weeks’ time.”

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