The New Year will begin on a costly note for car buyers with major players, including Maruti Suzuki, Hyundai Motors and General Motors, planning to increase prices of the vehicles by as much as Rs 12,000.
It has refreshing new design and feature rich interior.
Hyundai Motor India, the country's second-largest passenger car manufacturer, may introduce more luxury cars in India, president Ashok Jha told Business Standard at the launch of the compact car, the i10, in Pune.
Defending champion Mukesh Kumar and Ashok Kumar returned identical cards of four-under 66 each to forge ahead of the rest of the field on day 2.
The firm, which has operations in India through a wholly -owned subsidiary, Hyundai Motor India Ltd, will manufacture the car, which will be smaller than the Santro, at its plant in Chennai.
Verna is loaded with features, classy desing but handling could have been better.
Similar to its predecessor i-10, the i-20 will be manufactured exclusively in India and exported to other countries. The i-20 model, which will come in many variants, is expected to be priced anywhere between Rs 5-6 lakh. The i-20 is likely to be equipped with an automatic gear box to facilitate convenient driving.
Hyundai Motor India on Monday said its vehicles sales grew by 27.4 per cent in October 2003 to 13,297 units as demand for its compact car Santro and mid-size model Accent continued to increase.
Hyundai has also decided to phase out Getz looking at the growing demand for i20.
Only five of India's top 20 car models have seen a reduction in wait times over the past year.
Apart from this, the company will roll out its SUV Santa Fe in October this year which will carry a price tag between Rs 20 lakh (Rs 2 million) and Rs 22 lakh (Rs 2.2 million) a unit.
Hyundai Motor India, India's second-biggest carmaker, on Monday said its car sales surged by 46.8 per cent in August to 14,436 units on higher domestic demand and exports.
Maruti Suzuki India said its domestic sales rose 10.6 per cent in May.
In what signals an emerging battle among small car manufacturers, Hyundai Motors India Ltd has asked the country's apex auto association to act against moves by "some pressure groups" to change the definition of a small car.
Yokohama beat Shandong to book Asian Champions League last 16 berth
Car major Hyundai has announced a price hike prices across models, including recently launched Verna, between 1 to 1.5 per cent.
Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April as demand remained robust across segments, industry body Siam said on Friday. The total passenger vehicle dispatches from companies to dealers rose to 331,278 units last month compared to 293,303 units in April 2022. Market leader Maruti Suzuki India dispatched 137,320 units to dealers last month against 121,995 units in April last year.
"They (Mahindra Renault) are planning to launch Sandero, which is very similar sounding to our Santro. Both are hatchbacks and Santro is an established trademark and they are trying to get mileage out of it," a senior HMIL official said.
Centre of Indian Trade Unions district secretary Muthukumar said the workers were arrested when they tried to stage an agitation in front of the plant at Sriperumbudur.
Contrary to expectations that car sales dip in December, auto majors Maruti Suzuki and Hyundai Motor India are poised to grow 30 per cent in sales (the two companies control 72 per cent of the domestic market). General Motors is looking at 70-80 per cent increase in sales.
Tata Motors plans to set up separate sales network for its electric passenger vehicles in current fiscal year as it looks to give differentiated experience to the buyers opting for the environment-friendly models, according to a top company official. The Mumbai-based auto major, which on Thursday introduced all-new versions of its Nexon EV and Nexon (internal combustion engine), said it will start experimenting with new outlets in some of the cities where EV volumes have gone up. "We'll have to separate them (sales outlets for EVs and ICE) given that we have different requirements of customers and also a growing portfolio (of EVs)" Tata Motors Passenger Vehicles managing director Shailesh Chandra told PTI in an interaction.
Open order books in February breach 700,000; wait period for some models exceed a year.
This year's edition, three years lost to the pandemic and scheduling, wore a distinctive shade of green, and, as would befit an era of technology shift from internal combustion engines to electric motors, had a clutch of high-technology exhibits and concepts. But the excitement of the expo's heyday was missing.
The phenomenal success of Xcent, Grand and Santa Fe increased volumes creating positive momentum
The country's second largest car maker Hyundai Motor India will ramp up its capacity by about 20 per cent from September onwards to cater to increased demand in the overseas markets and plans to hire 1,000 people this month.
The promoter entities of JSW Group are in talks with several electric-car manufacturers in China to launch an electric car for the Indian market at Rs 15-20 lakh, a source close to the development said.
'India is the sixth-largest market for the Kia Corporation, and contributes 8 to 9 per cent to our global sales.' 'We are eyeing 10 per cent market share over the next few years depending on customer demand and new product innovations.'
Hyundai currently sells hatchback models Santro, i10, Getz along with sedans Accent, Verna, Sonata Embera in the country. The company's move to hike prices follows rival Maruti Suzuki India, which hiked prices last week across various models between Rs 1,000 and Rs 18,000.
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Hyundai Motor India reported 16.41 per cent growth in its total sales in September at 53,804 units, the highest ever monthly sales since the company first rolled out its car in India 11 years ago.
Korean car maker Hyundai Motors India Ltd said it will have to lay off 2,000 temporary workers, about one-fourth of its labour force, to tide over a decline in car sales. The company employs over 8,400 workers, of which around 3,300 are temporary.
The car made its debut in India.
Tata Motors on Friday said it will hike the prices of its passenger vehicles, excluding the Nano, by up to Rs 36,000 from April 1, to offset rising input costs.
The LPG variant will be priced Rs 21,500 more than the existing petrol model. The ex-showroom Delhi price for Santro eco (GL) is Rs 354,294 and Santro eco (GLS) is Rs 373,357.
Domestic passenger vehicles sales rose by 23 per cent to a record of 37.93 lakh units in 2022 led by the likes of Maruti Suzuki, Hyundai and Tata Motors as the companies rode on easing of pandemic related challenges and semiconductor shortages to cash in on pent up demand, specially for SUVs. Other manufacturers like Toyota Kirloskar Motor and Skoda India also reported record sales in 2022. "The industry wholesales in January to December 2022 were just short of 38 lakh units.
The price is expected to be around Rs 10 lakh, at par with competition.
Fuel price hike will impact demand going forward.
The Maharashtra State Road Development Corporation (MSRDC) on Monday said that Reliance Infrastructure-Hyundai consortium would build the sealink between Worli and Haji Ali.
Domestic passenger vehicle (PV) sales saw a significant growth in October due to increased availability of semiconductor chips and rising consumer confidence. The sales figures during the month - which coincided with the first post-Covid festival season - released by the top ten carmakers saw a jump of 30.7 per cent to 322,885 units in October. Auto companies count wholesales - units dispatched to dealers - as sales.
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