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.
Hyundai eyes sales of three lakh units this year.
The company had rolled out the first car -- a hatchback Santro -- from the Sriperumbedur facility in September 1998.
Maruti Suzuki India and Hyundai reported single-digit sales growth in July with the sports utility segment continuing to drive overall demand in the market. Mahindra & Mahindra witnessed a 29 per cent increase in passenger vehicle dispatches while Tata Motors saw a marginal increase in the wholesales last month. Maruti Suzuki on Tuesday said its total domestic passenger vehicle sales stood at 152,126 units last month as compared to 142,850 units in the year-ago month, a growth of 6 per cent.
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 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.
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 country's biggest carmaker, Maruti Suzuki India, has raised concerns about the continuing slide in small car sales.
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.
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.
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
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.
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.
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.
When mounted on a vehicle, the scooter is charged automatically using electricity produced while driving, ensuring that the user can complete their journey seamlessly, using the e-scooter to reach their final destination after parking the vehicle.
Tata Motors (TaMo) is aiming to gain market share across its passenger vehicle (PV) and commercial vehicle (CV) businesses - targeting a 40 per cent share in CVs and a 16 per cent share in PVs by 2027. Meanwhile, it has already achieved earnings before interest, tax, depreciation, and amortisation (Ebitda) breakeven in its electric vehicle (EV) business at 1.2 per cent (up 830 basis points), ahead of its target of 2025-26 (FY26).
Young Key Koo, managing director, Hyundai Motors India, said SUV was the right product for 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.
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.
'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.'
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
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.
The new variant comes with 1.4 litre petrol engine with four speed automatic transmission besides additional safety features.
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.
The market capitalisation (mcap) cutoff to qualify for mutual funds' (MFs') largecap universe is likely to go up for the fifth consecutive time to touch the Rs 1 trillion mark for the first time. A fresh list of largecap, midcap, and smallcap stocks is set to be released by the Association of Mutual Funds in India (Amfi) in the first week of January.
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.
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.
Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 per cent dip in total domestic passenger vehicle wholesales last month to 144,962 units compared to 150,812 units in the year-ago month. The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.
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).
"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.
Maruti's Alto retained the top position in June with 14,856 units, as against 15,750 units in June last year.
Ruural markets contribute a significant chunk of SUV sales and there was a slowdown in demand from semi-urban and rural areas.
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.
A door lock problem forced Korean carmaker Hyundai to announce the recall of over 47,000 units of its premium sedan Sonata from its home market and the US. However, the move has no impact in India.
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