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.
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.
Currently Hyundai sources only a negligible percentage of components from India for its global needs but wants to increase the level.
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.
Hyundai Motor India has started a scheme to give central and state government employees a special discount on purchase of its vehicles.
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.
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.
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.
IPOs worth Rs 50,000 crore including Hyundai, NTPC Green Energy and Swiggy are set to hit the market in late October or early November.
While Maruti held the top spot for four decades, the Ambassador was the best-selling car in post-Independence India for three decades.
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
The changes will take effect on March 28, with portfolio adjustments expected before the market closes on March 27.
It has been initiated to replace a stop lamp switch due to a potential malfunction.
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.
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 Motor India will increase prices of its vehicles by up to Rs 20,000 across all models by February 1.
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.
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.
For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
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.
Hyundai Motor India recorded an impressive 121 per cent growth in sales in April this year at 19,853 units.
India's second largest car maker, Hyundai Motor India, is planning to phase out its hatch-back Getz and focus on its other small car i20.
The South Korean auto major which entered India in 1998 through its flagship compact car Santro, has reached the 20 lakh (2 million) car production for domestic market in 12 years.
Besides making India its global small car hub and increasing the R&D headcount by four fold, the company would start exporting its engines from the Chennai plant from next year.
High real estate prices make the South Korean car maker look at Chennai and Hyderabad.
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.
Last year it had entered Spain, China, Vietnam and Pakistan as well.
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.
Hyundai Motor India Ltd will hire NRI's and expatriates in executive positions as part of a new recruitment policy that aims at tapping global talent in the automotive industry, the company said on Tuesday.
Hyundai eyes sales of three lakh units this year.
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.
The company had rolled out the first car -- a hatchback Santro -- from the Sriperumbedur facility in September 1998.
The company officials that visited Dholera will submit their recommendations to the company board for a final investment decision in this regard.
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.
Hyundai Motor India also plans to raise its sales in the overseas market this year.
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.
Maruti Suzuki, India's largest producer of small cars, stands to benefit the most.
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