Page 8 - Hyundai Motor India

Hyundai sales up 7% at 63,551 units, sells total 59,601 units in May

Hyundai Motor India Ltd (HMIL) on Saturday reported 7 per cent year-on-year increase in total sales at 63,551 units in May. The company sold a total of 59,601 units in May 2023, HMIL said in a statement. Domestic dispatch of vehicles to dealers saw 1 per cent rise to 49,151 units last month from 48,601 units in the year-ago period. Exports grew 31 per cent in May to 14,400 units, as compared with 11,000 units in the year-ago period. "We have maintained a healthy total sales volume in May 2024, despite a week-long routine bi-annual maintenance shutdown at our Sriperumbudur factory," HMIL COO Tarun Garg said. SUVs continue to be a growth driver for HMIL, accounting for more than 67 per cent of domestic sales last month, he added. "Our rural penetration stood at a healthy 20.1 per cent in May," Garg said.

Indian bankers get ready for IPO surge as elections come to a close

The year's largest IPOs are likely yet to come, such as South Korea's Hyundai Motor Co.'s first-time share sale of its India unit, which could raise about $2.5 billion

Auto retail sales up 27% in April, passenger vehicles make record

Two-wheeler segment grows strongest due to 'positive impact' of elections, says FADA

Hyundai's India unit, Tata Motors post higher April sales, Eicher sales dip

The sales numbers are seen as a key indicator of private consumption in India. The auto sector has more than 50% weightage in calculating the country's economic growth

Hyundai sales rise 9.5% to 63,701 units in April; exports at 13,500

Hyundai Motor India on Wednesday said its wholesales rose by 9.5 per cent year-on-year to 63,701 units in April. The automaker had dispatched 58,201 units in the same month last year. Domestic wholesales saw an increase of 1 per cent to 50,201 units last month from 49,701 units in the year-ago period. Exports rose by 59 per cent to 13,500 units in April this year as against 8,500 units in April 2023. In April, the company achieved a fourth consecutive month of 50,000-plus domestic sales this year, Hyundai Motor India COO Tarun Garg said. Driven by models like Creta, Venue and Exter, SUVs continued to be a growth driver contributing 67 per cent of automaker's domestic sales, he added.

Hyundai Motor Group plans hybrid cars for India in strategy shift: Report

Both Hyundai, which is India's second-largest carmaker, and Kia are targeting the launch of hybrid SUVs in 2026 or 2027, the two sources said, adding that their EV plans for India were also on track

Hyundai Motor India rolls out 'Grameen Mahotsav' in 16 new locations

Auto-maker Hyundai Motor India has expanded its 'Grameen Mahotsav' initiative to 16 new locations across the country, after the success of its inaugural event held in Gujarat this month. The 'Grameen Mahotsav' initiative aims to further strengthen HMIL's connection to rural India with specially curated events and product displays including live music, folk dance, and regional talent shows among others. It also serves as a platform for Hyundai to delve into the vast potential of rural markets. By closely engaging with communities and discerning market trends, HMIL aims to not only cater to evolving aspirations but also identify and welcome new customers, Hyundai Motor India said in a statement on Friday. The inaugural 'Grameen Mahotsav' event was held successfully in Mahemdavad, Gujarat. Now, Hyundai Motor India looks forward to extending its reach and impact across rural landscapes. "Our sustained efforts towards bolstering rural connect are bearing great fruits and Hyundai Motor

South Korea's Hyundai Motor Group to invest $51 bn won over 3 years

Hyundai Motor Group includes flagship Hyundai Motor and its affiliate Kia, which together are the world's number three automaker by sales

With artificial intelligence at the wheel, Hyundai's TN unit shifts gear

The plant, one of the first units by any industrial player in Sriperumbudur is set to see an investment of Rs 26,000 crore, as it enters into 26th year of its operation

First-time car buyers now choosing SUVs: Hyundai India COO Tarun Garg

Garg expressed his disagreement with concerns that the drop in hatchback sales implies that several first-time buyers are being edged out of the car market itself

Hyundai Motor India may launch India's largest IPO ever this Diwali

At the upper band, the valuation of Hyundai India would be around Rs 23.3 trillion, more than Mahindra & Mahindra and Bajaj Auto

Hyundai Motor wholesales increase 8.5% in January at 67,615 units

Hyundai Motor India on Thursday said its wholesales rose by 8.5 per cent to 67,615 units in January. The automaker had dispatched 62,276 units in the same month last year. Domestic sales saw an increase of 14 per cent to 57,115 units last month from 50,106 units in the year-ago period. Exports, however, declined by 14 per cent to 10,500 units in January as against 12,170 units in 2023. This strong growth has been fuelled by an overwhelming customer response to the newly launched Hyundai Creta, which has already garnered close to 50,000 bookings within a month opening, Hyundai Motor India COO Tarun Garg said in a statement. Further, the entry SUV exter continues its amazing run in the market clocking great sales numbers as well, he added. "Going forward, we continue to be cautiously optimistic about the momentum of the auto industry in 2024," Garg said.

Hyundai Motor announces Rs 6,180 cr investment plans in Tamil Nadu

Aligned with the Hyundai Hydrogen Vision, the goal is to help foster a worldwide Hydrogen Society by making hydrogen readily used for everyone, everything, and everywhere

Hyundai Motor India total sales grew 9%, reached 765,786 units in 2023

Hyundai Motor India Ltd on Monday reported a 9 per cent year-on-year increase in total sales at 7,65,786 units in 2023, on the back of record annual domestic sales. The company had sold a total of 7,00,811 units in 2022, Hyundai Motor India Ltd (HMIL) said in a statement. The company achieved its highest-ever domestic sales in a calendar year, crossing the six lakh sales milestone in 2023 as it sold 6,02,111 units, up 9 per cent over previous year's 5,52,511 units, it added. Exports grew by 10 per cent to 1,63,675 units in 2023 as compared to 1,48,300 units in 2022, it added. HMIL COO Tarun Garg said the company has not just kept pace but surpassed the estimated industry growth of around 8.2 per cent. "Also in 2023, we proactively expanded our annual production capacity by 50,000 units to meet the increasing demand from our customers," he added.

After an impressive festive season, car sales likely to cool down in Dec

December is usually marked with weaker sales as customers tend to wait for the new year to get the newest cars with the changed model year

Hyundai to install new plant in S Korea, to produce 200,000 EVs a year

Hyundai will invest 2 trillion won ($1.5 billion) building the plant, which will cover 548,000 square meters of land at a former motor racing circuit

Hyundai India set for SUVs accounting over 60% of sales in 2023: COO Garg

Hyundai Motor India Ltd is on track to achieving 60 per cent of its total domestic sales from SUVs this year with models like Creta and the newly launched Exter accelerating the growth, according to company COO Tarun Garg. With exports accelerating in the last three months, the company is also confident of sustaining its overseas shipments momentum despite concerns over global geopolitical situation. "We will end up with more than 60 per cent at the end of the year which is what we said at the beginning of the year...We are now almost reaching there," Garg told PTI. He was responding to a query on how much would SUVs contribute to the company's overall sales considering the traction its models have witnessed in the market. He further said,"For us the good thing has been that SUV contribution has moved to 63 per cent in October and year-to-date at 59 per cent as against industry SUV percentage of 48 per cent. So that has really helped us to outperform the industry in terms of Januar

India recorded flat car and SUV sales in Navratri this year: Report

Between Shraadh and Navratri this year, the total car sales were around 330,000 units, 16% higher than 283,000 last year

Stand 'firmly' with General Motors Talegaon workers: Maharashtra CM

State government assures workers, says better compensation, jobs among solutions being worked out

Maruti eyeing bigger pie of global car market, aims to 3X exports by 2030

Maruti Suzuki reported its best-ever exports which reached 259,333 units for the financial year 2022-23