Similar to its predecessor i-10, the i-20 will be manufactured exclusively in India and exported to other countries. The i-20 model, which will come in many variants, is expected to be priced anywhere between Rs 5-6 lakh. The i-20 is likely to be equipped with an automatic gear box to facilitate convenient driving.
"They (Mahindra Renault) are planning to launch Sandero, which is very similar sounding to our Santro. Both are hatchbacks and Santro is an established trademark and they are trying to get mileage out of it," a senior HMIL official said.
Centre of Indian Trade Unions district secretary Muthukumar said the workers were arrested when they tried to stage an agitation in front of the plant at Sriperumbudur.
Country's largest carmaker Maruti Suzuki India (MSI) on Monday reported 8.7 per cent increase in total sales in February.
Hyundai has also decided to phase out Getz looking at the growing demand for i20.
Apart from this, the company will roll out its SUV Santa Fe in October this year which will carry a price tag between Rs 20 lakh (Rs 2 million) and Rs 22 lakh (Rs 2.2 million) a unit.
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 IPO market is set to be bustling next week, with 11 companies like Vishal Mega Mart, TPG Capital-backed Sai Life Sciences and fintech firm One Mobikwik Systems gearing up to launch their initial share sales, collectively aiming to raise nearly Rs 18,500 crore. Other mainboard IPOs to be launched during this period are Inventurus Knowledge Solutions Ltd and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd.
The car will be available with a 1.2 litre Kappa engine in three variants. The company has also decided not to absorb 1,200 trainees as it reduces working shifts in its Chennai plant.
However, the company's cumulative sales (including exports) in November were up by 48.89 per cent to 43,105 units compared with 28,950 units in the year-ago period, HMIL said. Its exports for the month rose by nearly three-fold to 28,500 units, the same stood at 9,898 units during the same month in 2007.
Passenger vehicle wholesales in India increased 4 per cent year-on-year in May to 3,47,492 units, as compared to the same month last year, industry body SIAM said on Tuesday. Overall passenger vehicle (PV) dispatches from companies to dealers stood at 334,537 units in May 2023.
The country's second largest car maker Hyundai Motor India will ramp up its capacity by about 20 per cent from September onwards to cater to increased demand in the overseas markets and plans to hire 1,000 people this month.
Currently, Hyundai has 400 dealerships and over 270 rural sales outlets supported by over 1,000 service centers across India.
Hyundai Motor India on Monday said its vehicles sales grew by 27.4 per cent in October 2003 to 13,297 units as demand for its compact car Santro and mid-size model Accent continued to increase.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
Hyundai Motor India, India's second-biggest carmaker, on Monday said its car sales surged by 46.8 per cent in August to 14,436 units on higher domestic demand and exports.
Korean car maker Hyundai Motors India Ltd said it will have to lay off 2,000 temporary workers, about one-fourth of its labour force, to tide over a decline in car sales. The company employs over 8,400 workers, of which around 3,300 are temporary.
The new i10's virtues are functionality and space, fresh design, refined ride and a silent cabin.
The LPG variant will be priced Rs 21,500 more than the existing petrol model. The ex-showroom Delhi price for Santro eco (GL) is Rs 354,294 and Santro eco (GLS) is Rs 373,357.
Recently, South Korean Foreign Minister, Chung Eui-yong, dialled his Indian counterpart, S Jaishankar, in New Delhi. His government, he said, "regretted the offence caused to the people of India". A day earlier, India had summoned the South Korean ambassador to express its "strong displeasure" over "an unacceptable social media post".
Hyundai Motor India Ltd, is floating its own advertising agency, Innocean, in India.
The country's second biggest car maker Hyundai Motors will be hiking prices across its model range by up to Rs 15,000 from December end.
Santa Fe was first introduced globally in 2001 as Hyundai's first SUV.
Hyundai Motor India reported 16.41 per cent growth in its total sales in September at 53,804 units, the highest ever monthly sales since the company first rolled out its car in India 11 years ago.
With the domestic small car market heating up, Korean major Hyundai Motors is lining up a new release for India. The vehicle, which is slated to hit the roads in the second half of 2011, is likely to sport a price tag not much higher than that of Maruti's cheapest variant -- the Maruti 800.
'We are seeing one of the highest discounts in recent years across companies.' 'October is a crucial month with several festivals coming up.'
Reversing his predecessor's decision to set up a diesel engine facility in Chennai, Hyundai Motor India's new managing director and CEO Han-Woo Park on Wednesday said as of now there was no such plan.
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.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
Korean auto major Hyundai Motor Company will bring the diesel variant of its premium hatchback 'i20' by the end of this year as part of its plan of introducing at least two new products in the Indian market annually for the next couple of years.
Hyundai Motor India Ltd (HMIL), India's second-biggest carmaker, on Friday launched premium hatchback Getz to enlarge its product portfolio and boost sales.
With car penetration of around 22 per 1,000 population, India continues to be a big opportunity to sell cars, especially in rural areas.
Recently, TPEM's first born electric concept, Avinya broke cover. The model promises a minimum range of 500 kilometres and advanced technology features, aimed at buyers in India and outside. TPEM, the newly formed entity may also consider a separate dedicated sales channel for the EVs with a distinctive corporate identity once the volumes reach a critical mass and throughput is large enough for the dealers to be profitable, said Chandra. Elaborating further on the hiring strategy he said, "We will hire from everywhere-wherever the talent of the required competency is available."
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.
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).
"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.
South Korean car giant Hyundai Motors has been asked by the National Consumer Commission to pay Rs 6.8 lakh to a consumer for supplying a defective Accent car. Ruling that it is the duty of the car manufacturers to replace defective vehicles, the Commission said that in such cases, the companies are "not justified" in protracting litigation for years merely because they have money power.
Company says work-from-home has been useful; doesn't foresee any delay in launches as it awaits govt clarity on resuming operations.
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