The auto industry is buzzing with news of launches. Some expected models are Korean Kia Cerato, Hyundai Elantra, Chinese Changan Alsvin and MG Motor MG-HS. If we see entrants what will this mean for prices and existing Japanese players Suzuki, Toyota and Honda? Will they compete with Korean and Chinese brands?
Changan will roll out Alsvin in January and there are reports it will also launch an SUV in the first half of 2021. MG Motor officials claim that SUVs, sedans and hatchbacks are in the offing. We hear that Hyundai is planning to launch its Sonata and Kia, apart from Cerato, is also keeping SUVs Sorento and Niro on the cards.
This flush of options has been the result of the Auto Development Policy 2016-21. New car companies can get tax and duty incentives if they manage to launch their models before the end of fiscal year 2021.
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