Hyundai launches compact SUV Venue

New Delhi: South Korean auto major Hyundai on Tuesday forayed into high selling compact SUV segment in India with the launch of new model 'Venue', priced in the range of Rs 6.5-11.1 lakh (ex-showroom Delhi).

Venue comes with three engine options -- 1 litre turbo and 1.2 litre petrol powertrains besides 1.4 litre diesel engine -- and sits below the Creta in terms of price and positioning.

The petrol variants are priced between Rs 6.5-11.1 lakh, while the diesel trims are tagged between Rs 7.75-10.84 lakh (ex-showroom Delhi).

The model would compete with the likes of current market leader Maruti Vitara Brezza, Tata Motors Nexon, Ford EcoSport and Mahindra XUV300, that are priced between Rs 6.48-11.99 lakh.

The compact SUV segment is the fastest growing vertical in the domestic market.

"The Indian market is at the centre of Hyundai's global growth plan and the launch of Venue will strengthen our commitment to this market," Hyundai MD and CEO S S Kim told reporters here.

The company said it has invested $100 million (over Rs 690 crore) on the development of the model over a period of four years.