Hyundai Motor India on Thursday said it had concluded a three-year wage agreement with its workforce, paving way for an increase in their salaries.
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.
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.
Leading carmakers Maruti Suzuki and Hyundai on Thursday reported a dip in wholesales in July as companies reduced vehicle dispatches to dealers amid moderation in demand. Maruti Suzuki India said its total domestic passenger vehicle sales stood at 137,463 units in July against 152,126 units in the year-ago month, down 9.64 per cent.
Maruti Suzuki, Hyundai and Tata Motors reported their highest-ever dispatches to dealers last fiscal, enabling the domestic passenger vehicle industry to log in best-ever performance to date. The country's largest carmaker Maruti Suzuki India reported its highest wholesales to date at 19,66,164 units, up 19 per cent from 16,52,653 units in 2021-22. Its domestic dispatches rose to 17,06,831 units in 2022-23, up 21 per cent from 14,14,277 units in 2021-22 fiscal.Hyundai Motor India said its overall wholesales last fiscal were the highest ever since commencing operations in the country.
Tamil Nadu -- often dubbed as India's own Detroit due to its thriving automobile manufacturing ecosystem -- is in no mood to miss the EV bus either. Recent developments attest to it. Vietnamese electric vehicle (EV) maker VinFast has promised a $2 billion plant in the southern state. And as promised earlier, the work on Tata Motors-JLR plant will kick off next week, on September 28, after the foundation stone laying ceremony.
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.
Hyundai Motor India Ltd, the country's second-largest car-maker, said on Thursday its volume sales in November rose 37 per cent to 9,847 cars from the year-ago period, boosted by demand for its flagship Santro compact.\n\n
Korean car maker, Hyundai Motor India would launch its 'Always Around' campaign for the fourth consecutive year from May 23.
Hyundai Motor India Ltd introduced on Wednesday its new compact car, 'i10' priced between Rs 3,39,000 lakh and Rs 3,98,000.
Hyundai Motor India Ltd has launched a public charitable trust to support a variety of social initiatives.
Hyundai Motor India, a wholly owned subsidiary of Korean Hyundai Motor Company, on Thursday reported a 28 per cent increase in sales for the month of January at 20,911 units.
Hyundai Motor India has received a faxed communication dated November 19 from the unrecognised union stating that they will resort to direct action from December 5.
It has been initiated to replace a stop lamp switch due to a potential malfunction.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
Hyundai Motor India has started a scheme to give central and state government employees a special discount on purchase of its vehicles.
Hyundai may join the battle in the sub-compact car market in India after Tata Motors introduces its Rs 100,000 car.
Tata Motors, Ford, Nissan, Maruti Suzuki, Toyota Kirloskar, BMW, Renault and Isuzu have also announced price hike from next month citing impact of increase in commodity prices and foreign exchange rates.
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.
Hyundai Motor India and General Motors have announced cuts in prices of their small cars, following the finance minister's announcement of excise duty reduction on small cars
Last week, rival and market leader Maruti Suzuki India had raised the prices of its various models, except Alto, by up to Rs 7,500 citing a sharp increase in input costs with immediate effect.
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 Motor India will increase prices of its vehicles by up to Rs 20,000 across all models by February 1.
Hyundai Motor India on Monday jacked up prices of a variant of mid-size car Accent by 11,640 after a steep increase in steel prices raised input costs.
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.
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.
Hyundai Motor India Ltd (HMIL) said it will increase the prices of vehicles across models by up to 2 per cent to offset rising input costs.
Auto major, Hyundai Motor India, on Thursday said that it would be increasing the prices of its products by up to 1.2 per cent across all models, from September 1.
The company has so far sold about 15 lakh (1.5 million) units of Santro in the country. The new model under Santro Non-Ac are priced at Rs 2,63,000, while Santro GL and GLS are priced at Rs 3,28,000 and Rs 3,48,000 respectively. The LPG variant of Santro GL is priced at Rs 3,49,000, whereas the LPG variant of Santro GLS is priced at Rs 3,69,000.
The Eurozone crisis is likely to bring down Hyundai Motor India's exports to 2.25 lakh cars this year against 2.47 lakh last year, a top company official said.
Tesla needs to either sell the same models with reduced features to lower the cost for Indian market, or incur losses.
The company, which is slated to introduce a new compact car later this year, is also mulling taking on Maruti Suzuki's Dzire and Honda Cars India's Amaze with a new sub-four metre sedan.
A deep split has emerged within India's auto industry over the proposed CAFE exemption for small cars, with only Maruti Suzuki and Renault backing the move in the final SIAM vote.
A strong demand for diesel SUVs has bumped up the contribution of these variants to Hyundai Motor India's sales to a three-year high, a company top official told Business Standard. The local arm of the South Korean carmaker has benefitted after some leading manufacturers - including car market leader Maruti Suzuki - pulled the plug on diesel models amid tightening regulations. Hyundai has also gained from the changing travel preference -people are frequenting getaways and taking to the road a lot more than what they did before the pandemic. This trend has been fuelling overall SUV sales.
Hyundai Motor has over 2,200 permanent workers, around 3,500 trainees and another 5,000 contract workers in the Sriperumbudur facility
Hyundai Motor India Ltd will increase the prices of its flagship model Santro next month due to rising input costs made by an appreciating rupee.
The company, which on Monday became an official partner for International Cricket Council, will also be spending Rs 200 crore (Rs 2 billion) in the next five years on advertising and promotions.
After more than two years, Tata Motors has dislodged Korea's Hyundai Motors in India from the second spot in monthly domestic passenger vehicle sales. The spurt in Tata's June numbers has primarily been due to a dramatic increase in sales of the Nano, after the mother plant at Sanand in Gujarat went onstream last month, as well as a surge in that of the Indigo.
Hyundai had signed a wage settlement on Thursday with a pay rise of 21-24 per cent over a three-year period. HMIEU had earlier gone on strike from April 20 to May 7 saying the management had not recognised the Union and had dismissed 80 employees, suspended 20 workers and transferred nine employees. The strike was called off after the meeting held by the labour commissioner on May 17.
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