Declaring a price war against rival Maruti's Swift, Hyundai Motors India Ltd launched its new premium hatchback Getz Prime, starting from Rs 3,89,000.
Leading carmaker Hyundai Motor India Ltd on Monday announced plans to roll out a CNG version of its bread-and-butter hatchback Santro by this year-end or early 2008.
Hyundai Motor India Ltd on Friday increased prices of all its car models in range of Rs 362 to Rs 2,816 on account of the increased cess announced in this year's budget.
Hoping to turn the tables on Japanese rival Maruti Suzuki's Swift, Korean car major Hyundai will launch a new version of its premium hatchback Getz under a new name Getz Prime by the end of this month in India.
The concept of the rally organised by Hyundai was to promote fuel efficient driving habits among its customers.
Boosted by Maruti Udyog Limited and Hyundai Motor India's sales of compact models, the domestic market posted 24 per cent growth in car sales to 1,04,488 units last month compared with 84,235 units in January 2006.
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Disappointed with dismal sales of its top end premium sedan Sonata, Hyundai Motor India Ltd will launch a diesel variant of the model this October, while it is readying to introduce a CNG driven small car by early next year.
From Hyundai to Tata Motors, automakers are staring at a bleak future. With no succor provided in the Budget, the pain for companies is likely to continue for the next two quarters.
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Car deliveries during the nine-day period saw sharp year-on-year (double-digit increase for most automobile companies.
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).
Hyundai Motor India said on Friday it will hike prices of all models, including the flagship Santro, from this month-end because of higher input and freight costs.
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Hyundai Motors India entered into an alliance with State Bank of India on Wednesday to provide special finance scheme for central public sector enterprise employees.
Adding a new dimension to the ongoing price war, Hyundai Motor India on Thursday introduced the export variant of its premium hatchback, Getz GLE, in the Indian market priced at Rs 415,000.
Consumer sentiments have been dampened due to several factors like tight liquidity, high insurance, and high costs
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The company currently sells various vehicle brands in the country ranging from hatchback Spark to sports utility vehicle Captiva, priced between Rs 333,000 and Rs 25.71 lakh (Rs 2.57 million), respectivley, (ex-showroom Delhi).
Maruti, Hyundai, Tata Motors, Mahindra & Mahindra and Honda saw their passenger vehicle sales improve in August compared to the same month last year, although Ford and Toyota witnessed a decline.
Hyundai Motors India on Thursday said it will raise the prices of its premium hatchback model 'Getz' by the end of this month.
Hyundai Motors on Wednesday enhanced its product portfolio in India by bringing in Tucson, its latest sports utility vehicle.
"The retail prices have been raised in the range of Rs 7,000-12,000 across all the four variants," the company said.
With car penetration of around 22 per 1,000 population, India continues to be a big opportunity to sell cars, especially in rural areas.
Hyundai Motor India Ltd on Tuesday said that tis new sedan Verna will be launched in India during the third quarter (Jul-Sept) of 2006, which will be slotted between its Accent and Elantra models.
Bouyed by higher sales in the festive season, domestic passenger car and motorcycle sales witnessed a healthy growth in November, going up by 21.16% and 27.08%
Having signed up teen tennis sensation Sania Mirza as brand ambassador for its Getz model, Hyundai Motor India on Monday
Hyundai Motors India Ltd on Wednesday said the company would invest up to $600 million for product development and capacity expansion.
The price of petrol variant of the Verna has been raised by Rs 3,500 (for the base model), while the diesel model has become dearer by Rs 10,000.
Companies also said confidence was yet to return among buyers, with many holding back their decision to buy cars.
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