Hyundai Motor India on Thursday said it has crossed the half-a-million mark in cumulative exports, with the loading of its latest product the i10 at the Chennai port. The company reached the first milestone of exporting 1,00,000 cars in four years and 10 months that ended in October 2004. In October 2005, it exported its 200,000th car, followed by 300,000th car and 400,000th car in October 2006 and August 2007 respectively. Hyundai India is targeting 530,000 units this year.
Korean auto major Hyundai Motor Co on Thursday launched entry level compact car Eon that has been developed specifically for the Indian market, at an introductory price of between Rs 2.69 lakh (Rs 269,000) and Rs 3.71 lakh (Rs 371,000), ex-showroom Delhi.
Hyundai has managed to maintain this 20 per cent share even though competition has become fierce
The Securities and Exchange Board of India (Sebi) has given green light to several mega initial public offerings (IPOs) last week, paving the way for bumper launches during the ongoing festival season. According to the update on Sebi's website, Hyundai Motor India, which will be the country's largest IPO of nearly Rs 25,000 crore, received the observation letter from the market regulator on September 24. The regulator also gave the final observations on the offer documents of Vishal Mega Mart and Swiggy.
'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
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.
Currently Hyundai sources only a negligible percentage of components from India for its global needs but wants to increase the level.
Starting January, the market is expected to welcome models like the Tata Punch 2025 which is expected to be around 6 lakh, Mahindra BE 07 EV around 29 lakh, Maruti WagonR Electric around 8.5 lakh, Toyota 3-Row SUV around 14 lakh, and Volkswagen Tera to be around 8 lakh.
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.
Young Key Koo, managing director, Hyundai Motors India, said SUV was the right product for India
Hyundai Motor India Limited's (HMIL's) record Rs 27,870 crore initial public offering (IPO) may not have set the primary market alight with sky-high subscription levels, but it has spelled a windfall for the five investment banks steering the share sale. The Indian arm of the South Korean carmaker paid Rs 493 crore - 1.77 per cent of the issue size - in fees and commissions to the book running lead managers (BRLMs), marking the largest-ever payout for an IPO in the country.
The Grand SportZ Edition will have features as Diamond cut Alloy wheels, blue tooth connectivity, steering mounted audio and Bluetooth controls, leather wrap on steering wheel, rear spoiler, B-Pillar blackout along with body graphics.
With Kona catering for the high-end market, the South Korean automobile conglomerate wants to introduce a product in the EV segment to address the mass segment.
"We plan to launch the new 'i10' model with 1.2L petrol engine in the next two months. It will be powerful by an additional 15 bhp against the existing one, which comes in a 1.1L engine," a Hyundai Motor India Limited's spokesperson told reporters on the sidelines of induction ceremony of third batch of students traffic volunteers in New Delhi.
Toyota, Mercedes Benz and BMW, have announced a hike already.
Hyundai Vice President (sales and marketing) Arvind Saxena told reporters at the launch of Verna in Kolkata on Wednesday that the second plant, coming up near the existing one near Chennai, would go on stream in 2008.
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.
Maruti's Alto retained the top position in June with 14,856 units, as against 15,750 units in June last year.
The government has asked Hyundai Motors to be more forceful in its unequivocal apology, Union Minister Piyush Goyal said on Tuesday on the South Korean firm's Pakistan partner's tweet on Kashmir.
With several $500 million-plus deals in the pipeline -- including ICICI Prudential AMC, Lenskart, PhonePe, Groww, PhysicsWallah, Meesho, Pine Labs, and Zepto -- investment bankers look poised for another year of hefty bonuses in 2025.
Shows i10 in poor light two weeks after Hyundai took swipes at Ritz.
Petrol variants of the car are priced between Rs 6.38-7.09 lakh.
'In the January-August period, the share of hatchback in the overall PV industry sales was about 22.4 per cent. In the September-October period, the share of hatchbacks has come down to 20.4 per cent. In just October, their share was just 20 per cent. This is simple wholesale data from industry body SIAM.'
Hyundai Motors India on Thursday said it will raise the prices of its premium hatchback model 'Getz' by the end of this month.
The 17-day strike by workers at Hyundai Motor India's Sriperumbudur factory ended after a meeting of workers' representatives, the company management and the labour board in Chennai.
A section of employees of auto-maker, Hyundai Motor India went on a flash strike at the company's production unit at nearby Sriperumbudur on Monday, demanding reinstating over 60 employees dismissed last year on grounds of ''unruly practices.''
Hyundai Motor India Ltd, is floating its own advertising agency, Innocean, in India.
The CNG Santro (XK, non-AC) has been priced at Rs 325,361 (ex-showroom, New Delhi). Prices of its other variants of CNG Santro were not immediately known.
Last year it had entered Spain, China, Vietnam and Pakistan as well.
Saxena, who has been working in Hyundai since 2006, is likely to join Volkswagen's Indian operations, sources said.
"We have given a notice...If we don't get any positive action from Hyundai management or from the labour department, we will fix the date for going ahead with a strike after December 5," CITU state general secretary A Soundararajan told PTI.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
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.
Needless to add, each and every car in the 'sizzling-six' of Hyundai has got enough temptation and oomph aspect.
Top carmaker Maruti Udyog will give freebies of up to Rs 28,900 on its two car models this week to counter a similiar offer by arch-rival Hyundai.
The SUV will herald a new chapter in Hyundai's success story.
The company sold 62,515 vehicles in December 2007 which includes 4,114 units of exports
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 semiconductor supply is constantly improving, with visible green-shoots in the situation as compared to earlier part of last year'
