The Hyundai i10 has always been a sweet deal and considering all the bells and whistles that the new car comes with, we can only say that the deal just got sweeter.
Hyundai has managed to maintain this 20 per cent share even though competition has become fierce
Hyundai Motor India Limited (HMIL) is planning to expand its used car business to all the existing dealerships in the country.
Hyundai Motor India, the country's second largest car maker, on Friday said its plan for launching a small car in the Indian auto-market is "well on course".
Passenger vehicle wholesale in India increased by 14.19 per cent to 3,10,294 units in October against 2,71,737 units in the same month last year as companies despatched more units to dealers to cater to enhanced demand in the festive season, auto industry body SIAM said on Wednesday. According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler sales also rose 16.88 per cent to 20,53,814 units, compared with 17,57,180 units in the same month last year. Motorcycle sales were at 13,82,749 units as against 11,16,886 units in October 2019, up 23.8 per cent.
With a slew of new players entering the Indian small car market, segment leaders like Maruti Suzuki India and Hyundai Motor India will face challenge to their domination.
The new Elantra is 40 mm longer and 25 mm wider than the outgoing model
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.
This will help the company cater to markets in the European Union, while availing of the tax incentives there.
Meanwhile, the company on Wednesday launched an advanced version of its mid-sized Verna sedan, priced at Rs 6.56 lakh-Rs 9.22 lakh (ex showroom Delhi).
"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.
Santa Fe was first introduced globally in 2001 as Hyundai's first SUV.
The global semiconductor shortage hit passenger vehicle sales in September, with major manufacturers like Maruti Suzuki, Hyundai and Mahindra & Mahindra reporting a decline in sales on Friday. Kia India and Honda Cars also reported a dip in wholesales last month as compared with the year-ago period. Carmakers like Tata Motors, Toyota Kirloskar Motor, Nissan and Skoda, however, reported an increase in passenger vehicle dispatches last month despite supply chain issues.
Contrary to expectations that car sales dip in December, auto majors Maruti Suzuki and Hyundai Motor India are poised to grow 30 per cent in sales (the two companies control 72 per cent of the domestic market). General Motors is looking at 70-80 per cent increase in sales.
"We have given a notice...If we don't get any positive action from Hyundai management or from the labour department, we will fix the date for going ahead with a strike after December 5," CITU state general secretary A Soundararajan told PTI.
The 17-day strike by workers at Hyundai Motor India's Sriperumbudur factory ended after a meeting of workers' representatives, the company management and the labour board in Chennai.
Around 800 workers at Hyundai Motor India's Sriperumbudur factory, who were on hunger strike, were arrested on Wednesday.
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.
The firm, which has operations in India through a wholly -owned subsidiary, Hyundai Motor India Ltd, will manufacture the car, which will be smaller than the Santro, at its plant in Chennai.
Company says work-from-home has been useful; doesn't foresee any delay in launches as it awaits govt clarity on resuming operations.
At a time when global auto majors are struggling, carmakers in India have been able to expand their overseas presence with exports from the country registering whopping 57.04 per cent growth in the last fiscal.
Reflecting the mood, passenger vehicle sales in November either remained muted or skidded for most manufacturers as high fuel prices and the higher cost of borrowing dampened buying sentiment.
The share of government banks in auto finance has increased significantly in the last few months. In some cases, it has nearly doubled. The reason: these banks are offering cheaper loans than their private sector counterparts.
Hyundai, the second-largest car manufacturer in the country, will stop the production of its A2 compact car, the Getz, by 2011.
Hyundai Motor India also plans to raise its sales in the overseas market this year.
MRTPC disposed of the one-year-old legal battle between the two auto giants, in which the Korean car maker accused MSI (formerly Maruti Udyog Ltd) of indulging in unfair trade practice by issuing "misleading" advertisements.
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.
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.
Car maker Maruti Suzuki India Ltd on Monday reported a 15.75 per cent jump in the total sales in May at 79,872 units as against 69,001 units in the same month last year.
Hyundai Motor India Ltd on Wednesday launched a new version of its premium compact car i20 priced between Rs 4,52,000 and Rs 7,48,000, while adding two more variants to its existing range.
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.
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.
Prices across all models starting from Eon to Santa Fe has been hiked in the range of Rs 15,000 to Rs 127,000
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.
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.
Hyundai Motor India on Saturday reported a 21 per cent increase in sales between January-November 2005 at 2,36,878 units.
Hyundai Motor India Ltd on Wednesday launched a new automatic variant of its diesel powered luxury sedan Sonata Embera CRDi, priced at Rs 15,71,656 (ex-showroom Delhi).
Michael Boneham, president, Ford India, said the small car would be engineered for Indian conditions and that the company was keeping options open for both petrol and diesel variants. Ford's mall car will mark its entry into the mainstream segment, popularly known as the B segment cars in India, which accounts for a little over 70 per cent of the 1.3 million India car market.
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.
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