Hyundai India is planning to start assembling its SUV Hyundai Santa Fe in India, which means that there will be a drop in the duties that Hyundai pays for the Santa Fe from 60% on the CBU to 30% on the CKD units which will be imported for local assembling in India. The current pricing of Hyundai Santa Fe SUV start from Rs. 20.95 Lakhs ex-showroom for 2WD variants and go up to Rs. 22.95 Lakhs for the 4WD variant. The competition of the Santa Fe is mainly the Toyota Fortuner, Skoda Yeti, Mitsubishi Outlander etc.. After the local assembling starts, the prices will be cut as a part of the excise benefit will be passed on to the buyers.
In an interaction with media, Arvind Saxena, Marketing and Sales Director, Hyundai Motor India quoted:
Starting CKD operations for the Santa Fe is part of our plan. Typically, we would wait for volumes to touch at least 150 units a month for it to make sense economically. At present, we are doing about 100 units a month.
Hyundai India is optimistic on increasing the sales of Santa Fe in India from current levels of 100 units a month to about a total of 1400 units in one year. The bookings of Santa Fe are closed as of now and will re-open in June 2011.
source- Business Line
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