The Korean company has sold over 1.36 million cars and has exported 535,000 units.
Hyundai Motor India Limited is taking the adage -- what cannot be measured cannot be controlled -- very seriously. In a move to control costs, it is implementing an innovative plan where the car-marker has incentivised every small idea to reduce the weight of the car it makes by offering Rs 100 for every gram saved in weight.
"HMIL started accepting export orders for the i10 from December, 2007, and received 60,000 orders from the overseas market creating a record of clocking the fastest 50,000 units of export orders in just three months," the company said. The company would ship around 26,000 units by March 2008, and subsequently it would be exported to all the major markets across the globe covering over 90 countries by the end of the year, it added.
Market sources say the new model will be called Atos, the name under which Santro was sold in some parts of Europe. Codenamed Pa, it has been tested by the company on the Chennai-Bangalore route. The company said the new car may be priced between Santro, which costs Rs 2.70-4.74 lakh (ex-showroom, New Delhi) and Getz (Rs 4.90-5.25 lakh).
Hyundai Motor India on Monday forayed into the domestic sports-utility-vehicle market with the premium SUV model Terracan.\n\n\n\n
Multiple tailwinds for the automobile sector, including a cut in goods and services tax (GST) rates, are keeping analysts bullish on auto stocks from a long-term perspective, even as they see the rally running its course in the near term.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
Sunil Pahilajani, managing director and CEO, Caparo India, said that the plant, which will operate as a wholly-owned subsidiary of Caparo India, under its division Caparo Vehicle Products India, will commence production in the final quarter of 2008-09. Caparo signed the technical support agreement with Hyundai Motor on Monday evening. The facility to be set on 20 acres will employ 200 people to start off with.
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 Korean automaker plans to boost production in both fast-growing markets with new plants, and fresh models for local and export consumption
Major carmakers in the country are loading barrels for the coming battle in the field, reports Arnab Dutta.
Hyundai Motor India expects its SUV range to gain further traction in the domestic market with demand for personal mobility gaining momentum post the second wave of COVID-19, according to a senior company official. The company, which already leads the SUV space with models like Venue, Creta, Tucson and recently launched Alcazar, is looking to maintain its lead in the segment which is growing with each passing month.
Passenger vehicle sales in India touched a record high of 41.08 lakh units in 2023, growing by 8.3 per cent over the previous year driven by SUVs, which accounted for almost half of the total dispatches from manufacturers to dealers. The record sales have been achieved despite an increase in the average price of vehicles to Rs 11.5 lakh last year as compared to Rs 10.58 lakh in 2022. Market leader Maruti Suzuki, Hyundai Motor India, Tata Motors and Toyota Kirloskar Motor reported their best-ever annual sales in 2023.
Hyundai Motor on Wednesday sought New Delhi's support to make India an export hub for small cars, while expressing interest to bid for a $500 million Delhi Metro contract for supply rolling stock. \n
HMIL president Ashok Jha did not rule out the possibility of research on developing low-end cars priced between Rs 1 lakh and Rs 2 lakh. The R&D unit will come up with an investment of $40 million over 15 acres and will be operational in a year's time.
Hyundai Motor India on Thursday downplayed apprehensions that its premium hatchback offering 'Getz' was under 'threat' following the launch of Suzuki's 'Swift' in the same segment, at a relatively cheaper price.
Besides, Toyota and MG Motor also reported nil sales as they suspended operations even before the imposition of lockdown on March 25 to check the spread of coronavirus. In two-wheeler segment, niche bike maker Royal Enfield said it had zero sales in the domestic market but exported a total of 91 units last month.
Fundraising momentum is expected to accelerate further in the New Year, potentially surpassing 2024's record figures
Tata Motors, India's third largest passenger vehicle maker, took pole position in the competitive sport utility vehicle (SUV) market in October, reveals the data from industry sources. Riding high on the Punch - the sub-compact SUV offering launched on October 18 - the Tata group flagship sold a record 23,381 units in October, higher than 20,022 units sold by archrival Mahindra & Mahindra, 18,538 units sold by Hyundai Motor India, and 15,931 units sold by Kia Motors India. Utility vehicles - that include SUVs and multipurpose vehicles - accounted for almost one in every two passenger vehicles sold in India in the first seven months of the current financial year, according to the Society of Indian Automobile Manufacturers.
Smart positioning, continued communication and a global design language have played a big role, say experts
Prices across all models starting from Eon to Santa Fe has been hiked in the range of Rs 15,000 to Rs 127,000
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
H S Lheem, president and chief executive officer of Hyundai WIA, part of the Hyundai Motor Group, announced commencement of the company's first plant in India near Sriperumbudur in Tamil Nadu, in which it's injecting a investment of $4 million.
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.
The Ministry of Heavy Industries announced on Tuesday that it has received bids from seven players for the re-bidding tender of the 10 gigawatt-hour (Gwh) tranche of the Advanced Chemistry Cell (ACC) manufacturing production-linked incentive (PLI). "The list of bidders (in alphabetical order) who have submitted bids in response to this tender are ACME Cleantech Solutions, Amara Raja Advanced Cell Technologies, Anvi Power Industries, JSW Neo Energy, Reliance Industries, Lucas TVS, and Waaree Energies for a cumulative capacity of 70 Gwh," the ministry said in a statement. After the re-auctioning for the manufacturing unit was announced in January, the pre-bid meeting was held on February 12, the ministry said.
Auto majors report positive sales figs for November.
'We don't have to compete with Maharashtra or Gujarat. We have to now start thinking about how we compete with the United States or China.'
All three employees are recovering fast towards normalcy and as per the safety protocol, essential information was shared with the district health authorities, it added.
M&M also saw its domestic passenger vehicle sales grow by 1 per cent, while Toyota Kirloskar Motor witnessed a decline in its PV sales.
For hatchbacks and sedans, offers range between Rs 40,000 and Rs 80,000 while SUVs and multi-purpose vehicles carry benefits exceeding Rs 1 lakh.
The move will result in around 25 per cent reduction in overseas shipments from the company's Chennai plant this year at 190,000 units compared to 253,000 units last year.
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.
New campaigns rev up their marketing pitch, while new challengers such as Tata Motors with the Zest promise to put up a spirited fight
Passenger vehicle exports from India increased 43 per cent in FY22, with Maruti Suzuki India leading the segment with dispatches of over 2.3 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 5,77,875 units in 2021-22 fiscal, as compared to 4,04,397 units in 2020-21. Passenger car shipments saw 42 per cent growth at 3,74,986 units, while utility vehicle exports rose 46 per cent at 2,01,036 units during the last fiscal, the data by the Society of Indian Automobile Manufacturers (SIAM) showed.
All the three companies that made their stock market debut on Wednesday delivered huge day-one gains for investors. Shares of digital payment major One Mobikwik Systems surged 90 per cent, while that of fashion retailer Vishal Mega Mart and pharma firm Sai Life Sciences gained around 40 per cent each. These stellar debuts came despite the benchmark indices logging continuous declines since their initial public offerings (IPOs) closed on Friday.
Maruti Suzuki, India's largest producer of small cars, stands to benefit the most.
Launched in petrol and diesel in-line options, Elantra holds the potential to dominate over the existing sedan rivals like Chevrolet Cruze, Skoda Laura and Toyota Corolla Altis.
Net flows from domestic institutional investors crossed Rs 5 trillion for the first time during a calendar year.
For investors who missed the initial IPO frenzy, the market correction is an opportunity to selectively invest in promising names, but patience and careful evaluation remain the key.
The entire range of Hyundai's diesel cars - from compact ones to SUV models, including the soon-to-be-launched Aura - will be eco-friendly.
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