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.
Hyundai Motor India will increase prices of its vehicles by up to Rs 20,000 across all models by February 1.
While Hyundai Motor India reported a marginal growth, Toyota Kirloskar Motor witnessed a dip in sales last month.
Hyundai Motor India has started a scheme to give central and state government employees a special discount on purchase of its vehicles.
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 new variant comes with 1.4 litre petrol engine with four speed automatic transmission besides additional safety features.
Domestic passenger vehicle (PV) sales saw a significant growth in October due to increased availability of semiconductor chips and rising consumer confidence. The sales figures during the month - which coincided with the first post-Covid festival season - released by the top ten carmakers saw a jump of 30.7 per cent to 322,885 units in October. Auto companies count wholesales - units dispatched to dealers - as sales.
Toyota, Mercedes Benz and BMW, have announced a hike already.
Localisation for present-generation Hyundai cars will also rise from the average 85-90 per cent.
Major carmakers, including Maruti Suzuki, Hyundai, Tata Motors on Friday reported growth in their passenger vehicle sales in June as semiconductor shortage woes showed gradual signs of easing out. Other manufacturers, Kia India, MG Motor India and Skoda Auto India also reported robust sales growth last month. Maruti Suzuki India (MSI) reported 5.7 per cent increase in total wholesales at 1,55,857 units in June as compared to 1,47,368 units to dealers in June 2021.
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.
Even as India's passenger-vehicle sales touched a record high of 3.9 million units in 2022-23, growing 27 per cent over the previous financial year, the country's largest carmaker, Maruti Suzuki India (MSIL), said on Monday uncertainties in the electronic-component supplies might affect production in FY24. MSIL said the shortage of electronic components had some impact on production in FY23. "The company took all possible measures to minimise the impact.
Driven by strong demand, the overall passenger vehicle dispatches crossed 3.35 lakh units in February as automakers, including Maruti Suzuki India, Hyundai, Tata Motors and Mahindra & Mahindra, reported robust sales during the month. The dispatches of more than 3.35 lakh units last month marked an 11 per cent over February 2022. It was also the highest ever overall wholesales in the month of February. The country's largest carmaker Maruti Suzuki India on Wednesday said its domestic wholesales rose 11 per cent to 155,114 units in February as compared with 140,035 units in the same month last year.
Korean car maker, Hyundai Motor India would launch its 'Always Around' campaign for the fourth consecutive year from May 23.
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.
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
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.
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).
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.
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.
Electric vehicle retail sales in the country witnessed over three-fold jump last fiscal with two-wheeler offtake leading the segment, according to data compiled by automobile dealers' body FADA. Total electric vehicle (EV) retails reached 4,29,217 units in 2021-22, a rise of three-fold from 1,34,821 units in the financial year 2020-21, the industry body said. Total EV sales had stood at 1,68,300 units in the 2019-20 fiscal, it noted.
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.
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.
'We deeply apologise for a post that was published on some KFC social media channels outside the country. We honour and respect India, and remain steadfast in our commitment to serving all Indians with pride,' according to a message on KFC India official account on Twitter.
The company had rolled out the first car -- a hatchback Santro -- from the Sriperumbedur facility in September 1998.
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.
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.
With entry-level cars being preferred amid the pandemic, market leader Maruti Suzuki has strengthened its hold, along with Hyundai Motor India.
Only five of India's top 20 car models have seen a reduction in wait times over the past year.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
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.
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
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.
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.
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.
The growth momentum that started during the festival season is likely to sustain in the new year, reports Arindam Majumder.
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.
Hyundai currently sells hatchback models Santro, i10, Getz along with sedans Accent, Verna, Sonata Embera in the country. The company's move to hike prices follows rival Maruti Suzuki India, which hiked prices last week across various models between Rs 1,000 and Rs 18,000.
Close to half a dozen more three-row premium mid-size models are expected to hit the road over the next two years.
Hyundai Motor India Ltd has launched a public charitable trust to support a variety of social initiatives.
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