i say its a worthy competitor to Corolla and Civic. much better engine and gear box. even better warranty and reliability record. much more options.
it has to gain market.
if u compare it with ciaz, actually ciaz had many reasons to fail like no local manufacturing, lesser options, 1400 CC engine so tax equivalent to 1600 CC bracket instead of 1300 CC. not very pretty or very spacious. it actually costed as much as a GLI or City Aspire and offered more or less nothing on top.
whereas Elantra offer tons of extra options. its almost the same age as our current corolla and civic and ofcourse Elantra new gen will come in to compete with newer gen of corolla and civic. but bear in mind that the price bracket for all 3 new generation cars will increase to 5M for top of the line variant. so in 4 Million Current Elantra is still a much better car and a much better option.