As per our Sources, Hyundai has put the development of its future MPV(Codenamed as ‘IP’ ) on hold. Success of Maruti Suzuki Ertiga and good initial sales of Honda Mobilio has made Hyundai to plan an MPV. Now, with market shifting towards SUVs, MPV segment has seen fall in its sales. This has made Hyundai to postpone the project. Main reason to postpone the project is the drastic fall in sales of Mobilio (currently selling only 600-700 units per month), with which they have benchmarked IP. This Multi Purpose Vehicle is to be based on Elite i20 platform and will share most of the parts of the same.
IP was being developed at Hyundai’s India R&D Centre and was slated to launch in 2017. It is said that the project has been postponed for 18~24 months. Hyundai will observe the market during this period and will be take a final call whether to cancel it altogether or not.
In-line with Global trend, Indian market is also witnessing SUV fever. This is resulting in fall in sales of MPV’s and executive sedans. Hyundai already has Creta, Santa Fe in their line-up and a under 4 meter SUV is being developed.The concept of this sub 4 metre SUV will be displayed at the upcoming Auto Expo.