Food delivery app Swiggy on Wednesday launched a Rs 11,330-crore initial share sale, asking investors to take a pie of Indian middle class' rising propensity of online ordering. The company, which is present in over 650 cities and towns of the country, is launching the initial public offering (IPO) amid heightened concerns on urban demand slump, and the management stressed that it is unaffected by the broader trends in the economy. "We are also reading about it, but we are not seeing that yet in the business... So far, we have not seen the impact of demand on our business," its chief financial officer Rahul Bothra said.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors reported decline in wholesales in August as the companies curtailed vehicle dispatches amid drop in demand and to cut inventories at dealer level. Market leader Maruti Suzuki India said its total domestic passenger vehicle wholesales were at 143,075 units last month as compared to 156,114 units in the year-ago month, registering a dip of 8 per cent. Sales of mini segment cars, comprising Alto and S-Presso, declined to 10,648 units last month as against 12,209 units a year ago.
When mounted on a vehicle, the scooter is charged automatically using electricity produced while driving, ensuring that the user can complete their journey seamlessly, using the e-scooter to reach their final destination after parking the vehicle.
Company says work-from-home has been useful; doesn't foresee any delay in launches as it awaits govt clarity on resuming operations.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
Hyundai sold 6,054 units of the new Verna in September, against 6,010 units of the Honda City and 5,603 units of the Maruti Ciaz.
So far, the current year has not been great for the leading car exporters from India. In the top five list of exporters -- Hyundai, Ford, Maruti Suzuki, General Motors and Volkswagen -- it is only Hyundai which is clocking a growth.
As it is with all Hyundais, the quality of the materials used is good and the cabin feels premium, practical and well put together.
MNC funds invest in companies where foreign promoters have more than 50 per cent shareholding.
The three companies - Ola, Hyundai and Kia - will co-create solutions to operate and manage fleet vehicles.
Hyundai Motor has over 2,200 permanent workers, around 3,500 trainees and another 5,000 contract workers in the Sriperumbudur facility
As other global car makers struggle in India to keep sales consistent, the Korean player has made a heady combination out of design, launches and localisation.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
Bolder and stylish, Hyundai Tucson makes a strong comeback.
The car is expected to hit the road on October 23 and is being launched as Hyundai celebrates two decades in the country. Industry sources say that it will be priced at Rs 3,70,000 to stay competitive with its biggest competitors, Tata Tiago and Maruti Suzuki Celerio.
With car penetration of around 22 per 1,000 population, India continues to be a big opportunity to sell cars, especially in rural areas.
During floods in Kolkata, the roads were strewn with stalled Santros, engines filled up with water.
Passenger vehicle market leaders Maruti Suzuki and Hyundai on Saturday reported a decline in wholesales in December 2021, although homegrown majors Tata Motors and Mahindra & Mahindra reported growth, amid semiconductor shortage continuing to impact production. Other manufacturers Nissan and Skoda also reported an increase in December 2021 sales although Honda Cars India witnessed a decline last month. The country's largest carmaker Maruti Suzuki India (MSI) reported a 4 per cent fall in wholesales to 153,149 units in December 2021 as against 160,226 units a year ago.
Young Key Koo, managing director, Hyundai Motors India, said SUV was the right product for India
The Hyundai Venue car had five occupants, four of them students of Delhi University colleges, who were returning from a birthday party at a pub in neighbouring Gurugram.
Ruural markets contribute a significant chunk of SUV sales and there was a slowdown in demand from semi-urban and rural areas.
Tata Motors is looking to consolidate its position in the SUV segment as it marks its entry into the highly competitive mid-size space which is currently dominated by South Korean and Japanese carmakers. The Mumbai-based auto major on Monday launched midsize SUV coupe Curvv with petrol and diesel powertrains with a price starting at Rs 9.99 lakh. The company has already unveiled the electric version of the model in August.
Future and concept cars at the New York International Auto Show.
'The people of India have shown immense faith in the Tata group as they have never broken the trust of Indians.'
It's not only the Indian markets that command a valuation premium over their global peers; shares of subsidiaries of India-listed multinational companies (MNCs) also trade at rich valuations compared to their parent companies. An analysis of 12-month forward price-to-earnings (P/E) and price-to-book (P/B) multiples of domestically listed MNCs shows that most quotes have a premium ranging from 2.1x to 6x that of their parent. Similarly, P/B, in most cases, is significantly higher in the domestic market.
Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
...But sales of domestic passenger vehicles dropped 2% to 3% year-on-year in August owing to low demand.
During the first eight months of CY24, 50 IPOs mobilised Rs 53,453 crore.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
Major carmakers in the country are loading barrels for the coming battle in the field, reports Arnab Dutta.
Facing capacity constraint, firm is yet to take a call on setting up a new manufacturing unit in India.
The Creta is more sure-footed than previous cars from the Korean firm. Ride quality is good, there is no bouncy feel and the pothole ridden Mumbai roads aren't as bad in the Creta as they are in other cars.
Though both brands belong to the same parent company, Hyundai has issued strict directives to dealer partners to withdraw their applications
Popular new models like Maruti Ciaz and Hyundai Elite i20 are reported to get dearer in a few days time.
Maruti's Alto retained the top position in June with 14,856 units, as against 15,750 units in June last year.
Automobile exports from India rose 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal. Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 152,156 units in the same period last year.
The Grand i10 gets Hyundai's new Fluidic styling and details.
'A lot of players such as Maruti and Hyundai are entering the market in the first and the second quarters of 2025.'
In the US, the Hyundai i30 is marketed as the hatchback version of the Elantra sedan.
The top six auto brands are: Maruti Suzuki, Hyundai, Tata Motors, Toyota, Kia and Mahindra & Mahindra.
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