South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
"Right from choosing the exact colour of the stone to what kind of metal would go around it... We paid so much attention to tiny colours," says Amit Aggarwal.
"Right from choosing the exact colour of the stone to what kind of metal would go around it... We paid so much attention to tiny colours," says Amit Aggarwal.
This is what unfolded at the India Couture Week ramp.
Amid challenging market environment, Maruti Suzuki India and Mahindra & Mahindra reported an increase in vehicle dispatches to dealers last month while Tata Motors and Hyundai saw a year-on-year drop in sales.
Leading carmakers Maruti Suzuki and Hyundai on Thursday reported a dip in wholesales in July as companies reduced vehicle dispatches to dealers amid moderation in demand. Maruti Suzuki India said its total domestic passenger vehicle sales stood at 137,463 units in July against 152,126 units in the year-ago month, down 9.64 per cent.
Tamannaah dazzled not in one but two outfits for Designer Rahul Mishra.
It was an invite-only event that blended delectable cuisine, curated cocktails and a stunning showcase of craftsmanship.
Hyundai Motor India expects SUV sales to account for 65 per cent of its overall volumes in 2024, while it gears up to enter the EV segment early next year, aiming to garner 20 per cent of its total sales by 2030, its COO Tarun Garg said on Tuesday. The automaker, which got around 60 per cent of its overall volumes from sports utility vehicle (SUV) sales last year, plans to invest Rs 7,000 crore on its second plant at Talegaon, according to Maharashtra Deputy Chief Minister Devendra Fadnavis. The company officials however declined to comment on the matter.
Elon Musk-led Tesla Inc is yet to express interest in India's flagship scheme to attract global investment in electric vehicle (EV) manufacturing, said Union Minister for Heavy Industries H D Kumaraswamy on Monday. In contrast, multiple global automobile giants -- such as Mercedes-Benz, koda Auto Volkswagen, Hyundai Motor, and Kia Motors -- are keen to participate, the minister noted.
The Securities and Exchange Board of India (Sebi) has given green light to several mega initial public offerings (IPOs) last week, paving the way for bumper launches during the ongoing festival season. According to the update on Sebi's website, Hyundai Motor India, which will be the country's largest IPO of nearly Rs 25,000 crore, received the observation letter from the market regulator on September 24. The regulator also gave the final observations on the offer documents of Vishal Mega Mart and Swiggy.
Viral videos of road rage in Dehradun featuring two families slugging it out over a minor accident has shocked Uttarakhand.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
'The reported deal between the European Union and China should mitigate it (shortage) for the medium to long term. Let's wait and watch how this plays out.'
Passenger vehicle sales in India kicked off on a flat note in new fiscal 2024-25 with 3.38 lakh units sold in April, impacted by high base effect and muted demand due to the ongoing general elections. Dispatches of passenger vehicles from manufacturers to dealers were at 338,341 units in April 2024 as compared to 332,468 units in the same month last year, a growth of 1.77 per cent with major players Maruti Suzuki India, Hyundai and Tata Motors reporting marginal growth in their domestic wholesales.
A bench of Justices Vikram Nath and Sandeep Mehta also restored the destruction of evidence charge levelled on deputy commissioner of police Parampal Singh for directing the removal of the number plate of the car after the firing incident in 2015 in which a driver was killed.
Domestic passenger vehicle wholesales were down 0.8 per cent at 3,44,656 units in May this year as compared to 3,47,492 units in the same month last year, Society of Indian Automobile Manufacturers said on Monday.
Global energy giant Shell has acquired Mumbai-based Raj Petro Specialities to deepen its foothold in the world's third biggest lubricants market in the world, a top company official said. Shell, which has already invested over $5 billion in India across the energy value chain -- from LNG import terminals and fuel stations to renewable energy and technology centres -- has acquired 100 per cent equity interest in Raj Petro Specialities Pvt Ltd from Germany's Brenntag Group.
77 per cent of all transactions in the January-March 2025 period took place digitally, indicating continued preference for online car purchases.
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
The country's biggest carmaker, Maruti Suzuki India, has raised concerns about the continuing slide in small car sales.
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).
The BYD Sealion 7 offers instant, exhilarating power, effortlessly pinning you to your seat with a 0-100 km/h sprint in just 4.5 seconds -- a performance proudly showcased on its rear badging.
Hyundai Motor India on Thursday said it will invest Rs 20,000 crore in a phased manner in Tamil Nadu over the next ten years to make further inroads into electric vehicles and modernisation of vehicle platforms. The automaker will invest in phases starting in 2023 till 2032. "Hyundai has been one of the largest manufacturers and consistent investors in Tamil Nadu.
Maruti Suzuki India, Mahindra & Mahindra, Hyundai Motor and luxury car maker Audi have extended support to customers in cyclone and flood affected regions of Tamil Nadu and Andhra Pradesh. In a statement, Maruti Suzuki India said it has collaborated with its dealer partners and made several arrangements at its workshops. As soon as the news about the cyclone 'Michaung' was reported, the company proactively sent out 7 lakh SMS alerts containing precautionary steps to its customers to ensure that even before the cyclone hits, customers could take precautionary measures to safeguard their cars against potential damage, it said in a statement.
The only silver lining in March's performance -- which otherwise dragged down the financial year's momentum -- was a 6 per cent year-on-year (Y-o-Y) growth compared to March of the previous year. This is largely due to incentives, festival-driven gains, and new launches.
Korean automaker Hyundai Motor Group (HMG) is vigorously aiming to establish a robust presence in India's electric vehicle (EV) segment through the introduction of new models and the establishment of charging stations under Hyundai Motor India (HMIL) and Kia India. Euisun Chung, executive chairman of HMG, who is currently visiting India, urged both companies to deliver products that not only meet but exceed customer expectations on time, thus driving the achievement of these growth targets. The group is strategically working to elevate Kia's market share from the current 6.7 per cent to an impressive 10 per cent in India in the near future.
Tesla needs to either sell the same models with reduced features to lower the cost for Indian market, or incur losses.
Hyundai's French rally driver Adrien Fourmaux was handed a 10,000 euro fine, with another 20,000 suspended, in Sweden on Sunday, however, for swearing in a live post-race broadcast interview.
Major Indian carmakers are preparing for sluggish domestic PV sales growth of just 1-2 per cent in FY26.
'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.'
While Maruti held the top spot for four decades, the Ambassador was the best-selling car in post-Independence India for three decades.
The changes will take effect on March 28, with portfolio adjustments expected before the market closes on March 27.
Maruti Suzuki India and Tata Motors on Monday announced plans to increase vehicle prices from April, the second time in this year, in order to partially offset the impact of rising input costs. Maruti Suzuki said it plans to hike prices of its entire model range by up to 4 per cent from next month.
More than 30 technology startups, collectively valued at $100 billion, are poised to go public by 2027, signalling a potential rebound in India's stock market activity, according to a report by investment bank The Rainmaker Group. Walmart-owned Flipkart, financial technology (fintech) leader PhonePe, SoftBank-backed Lenskart, Razorpay, Zetwerk, and Meesho are among the top companies preparing to go public in India.
With nearly 100 launches and unveils, the Bharat Mobility Global Expo 2025, held in Delhi from January 17 to 22, made one thing clear to automobile enthusiasts: Electric vehicles (EVs) are the way ahead for the Indian auto market for years to come.
Proliferation of home chargers of around 7 KWh and above, which take six to seven hours to fully charge a car depending on the model, bring running costs down by a third or so. That, coupled with the increasing range of modern electric cars, can lead to a massive increase in sales.
The Punjab government dismissed claims that it owned the car intercepted in Delhi. The vehicle's number plate was forged and fake as it can be tracked to a different car not owned by the Punjab government, it said. The AAP, too, released a statement, saying the car seizure was a "planted stunt, ?poorly executed and utterly bogus".
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.
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
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