While MSI's price cuts range between Rs 8,502 and Rs 30,984 across its models, Hyundai has slashed prices by between Rs 10,000 and Rs 135,300.
The country's second largest carmaker, Hyundai Motor India, on Friday said it is cutting production by 25 per cent and will work two shifts instead three from the next week following a slump in demand.
Hyundai Motors India, which last year gifted 100 cars to Chennai City Police, plans to donate furniture to needy schools across Tamil Nadu as part its community development programme.
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.
According to the company's business plan for 2013, the company said its plant at Chennai is projected to have a wholesale volume of 6,33,000 units as compared to 6,41,000 units clocked last year, a decline of 1.3 per cent.
Hyundai Motors India, the country's second-largest car firm, launched the diesel version of its top-end sedan Sonata Embera tagged at an introductory price of Rs 14.75 lakh (ex-showroom Delhi).
Tata Motors, Mahindra & Mahindra and Kia India on the other hand witnessed an increase in their market share based on the retail sales last fiscal. As per the Federation of Automobile Dealers Associations (FADA), the retail sales of country's largest carmaker Maruti Suzuki India rose to 14,79,221 units in 2022-23 fiscal, attaining a market share of 40.86 per cent. It had retailed 12,39,688 units in 2021-22 and grabbed a market share of 42.13 per cent.
Hyundai Motor India recorded an impressive 121 per cent growth in sales in April this year at 19,853 units.
High real estate prices make the South Korean car maker look at Chennai and Hyderabad.
Hyundai Motor India on Thursday said it would be launching a "new generation" model of its mid-size offering 'Accent' in the Indian market around the latter part of 2006 for which it would be investing close to $130 million.
Hyundai Motor India on Thursday introduced a new version of its compact car i10, offered at an introductory price of Rs 3,48,000 to Rs 5,91,000 (ex-showroom,Delhi).
Hyundai Motor India also plans to raise its sales in the overseas market this year.
Hyundai eyes sales of three lakh units this year.
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.
Ola Electric has denied media reports suggesting its involvement in a leak of proprietary pouch cell technology (tech) from South Korea's LG Energy Solution, calling the allegations "baseless". The company said it has no commercial or research interest in the older pouch cell format cited in the reports, emphasising that its new 4680 Bharat Cell - based on advanced dry-electrode cylindrical tech - is already in commercial production.
Hyundai Motors India Ltd has sought to amend its original petition filed before the Monopolies and Restrictive Trade Practices Commission to include posters and pamphlets in the purview of its prayer.
Leading automakers Maruti Suzuki, Hyundai, Mahindra, and Tata Motors saw a dip in dispatches to dealers in August amid dip in demand with many prospective buyers postponing their buys anticipating a reduction in vehicle prices on account of the new GST framework. The country's largest carmaker Maruti Suzuki India reported an 8 per cent year-on-year dip in dispatches of passenger vehicles in the domestic market last month.
In absolute terms, both types of cars must cut emissions by about 28-29 g/km. But in percentage terms, the lighter 900-kg car must reduce emissions by 27 per cent, while the 1,500-kg car needs a 22 per cent cut. And the target becomes progressively stringent for both -- but, once again, the tightening is sharper for the 900-kg car than for the 1500-kg car.
The three companies - Ola, Hyundai and Kia - will co-create solutions to operate and manage fleet vehicles.
The new variant comes with 1.4 litre petrol engine with four speed automatic transmission besides additional safety features.
The company's new engine and transmission plant in Chennai, set up at an investment of $250 million, would have a capacity of 2.5 lakh units per annum. Overall, the company has invested $421 million on the Kappa project over a period of 48 months.
In yet another recognition of India's manufacturing expertise, Hyundai Motor India has decided to export engine and transmission to global manufacturing units of its Korean parent company and subsidiary Kia Motors from next year.\n\n\n\n
Tesla needs to either sell the same models with reduced features to lower the cost for Indian market, or incur losses.
Commenting on the company's performance, HMIL managing director and chief executive officer, BS Seo said: "We surpassed our targets of selling 4 lakh vehicles in the domestic market by adding new products like Xcent, Elite i20 and Santa Fe to our robust product portfolio."
The share of eastern India in the overall sales volume is also expected to grow from the existing 9 per cent to 15 per cent by 2010. At present, Hyundai sells around 1,000 units per month in eastern India.
Hyundai Motor India Limited, a wholly owned subsidiary of Hyundai Motor Company S Korea, is investing an additional $220 million to expand the capacity of company's Chennai plant, a top company official said on Friday.
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
India may see its busiest EV festive season in 2025 with SUVs, luxury cars and scooters set to launch, but rare-earth supply bottlenecks risk delaying rollouts.
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.
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers. However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
From the 30 Sensex pack, Mahindra & Mahindra, State Bank of India, Power Grid, Tata Steel, IndusInd Bank, Tata Motors, Larsen & Toubro, NTPC, Bajaj Finance and Reliance were among the biggest laggards.
Young Key Koo, managing director, Hyundai Motors India, said SUV was the right product for India
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