New Delhi, Dec 29 : South Korean car maker Hyundai Motor launched ''i 20'' here today. This car is said to be an improved version of ''i 10'' with more space and more powerful engine.

The launch that has taken place at the time of global financial meltdown raised many questions about the success of ''i 20'' in the Indian markets. But the senior vice president of Hyundai motors said that, they were positive about the launch, as what matters ultimately is the quality of the product.

"Current automobile market is very much tough, so we had many kinds of feasibility studies, and decision about negative days was also very much difficult. But I think that we should provide good product in any case, despite the entire economic situation. So the reason we decided to have an inauguration today," said H. S Lheeh, MD, Hyundai Motors India Ltd.

Lheeh added that they were trying to do everything possible for the success of the car in the market. They were making better offers, talking to the consumers and also to the public sector banks to provide finance.

The car has been launched in three variants namely Magna, Asta and Asta (0). The five door ''i 20'' boasts of many classy features like a large interior cabin and stylish exteriors.

"It is fantastic car, I think the car which many consumers would not have seen in the segment. The car offers many features for the first time and it is one of the most stylish car on the Indian roads" said Arvind Sexana, Senior Vice President, Hyundai Motors India Ltd.

Hyundai, the No. 2 carmaker in India and home to a small car hub, expects to sell just 490,000 cars including exports, compared with a target of 530,000, in 2008 as the industry grapples with falling sales and tighter credit. (ANI)