Page 3 - Hyundai Motors

Hyundai Motor reports 2.4% decline in sales at 55,078 units in Dec 2024

Hyundai Motor India Ltd on Wednesday reported a 2.4 per cent decline in total sales at 55,078 units in December 2024, as compared to 56,450 units in the same month a year ago. The company, however, recorded its highest-ever yearly domestic sales of 6,05,433 units in 2024, Hyundai Motor India Ltd (HMIL) said in a statement. In December domestic sales were at 42,208 units, as compared to 42,750 units in December 2023, down 1.3 per cent, it said. Exports last month were at 12,870 units, as against 13,700 units in December 2023, down 6.1 per cent. For 2024, domestic sales were at 6,05,433 units, up marginally from 6,02,111 units in 2023, the company said. "HMIL has managed to sustain sales momentum in 2024, despite strong headwinds faced by the industry at large. Achieving highest-ever domestic sales three years in a row, reflects customers' preference for brand Hyundai as their trusted smart mobility solutions provider," HMIL Whole-time Director and Chief Operating Officer Tarun Garg

Hyundai Motor to set up 600 charging stations for EVs over next 7 years

India's second-largest carmaker is set to launch its first mass-market electric car, the Creta EV, in the coming months

Hyundai to increase car prices by up to Rs 25,000 amid rising costs

A disruption in global shipping routes, particularly along the Red Sea, has resulted in an increase in container rates in 2024 compared to the previous year

Maruti Suzuki sales rise 10% in Nov; Hyundai down 7%, TaMo up marginally

Maruti Suzuki India on Sunday reported a 10 per cent year-on-year increase in its total sales at 1,81,531 units in November. The automaker had dispatched 1,64,439 units to its dealers last November last year. Total domestic passenger vehicle wholesales were at 1,41,312 units as compared with 1,34,158 units in the year-ago month, a growth of 5 per cent, it added. Sales of mini segment cars, comprising Alto and S-Presso, stood at 9,750 units as against 9,959 units in November 2023. Sales of compact cars, including Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR, declined to 61,373 units as compared to 64,679 units in the year-ago month. Utility vehicles, consisting of Brezza, Ertiga, Grand Vitara and XL6, clocked sales of 59,003 units last month as compared to 49,016 units earlier. Sales of van Eeco were at 10,589 units last month as against 10,226 units in November 2023, while that of light commercial vehicle Super Carry stood at 2,926 units as against 2,509 units earlier.

Hyundai India receives show cause notice for alleged tax discrepancies

Tax authority Maharashtra alleges 'excess input tax credit claimed' by Hyundai India in GSTR 3B/9, which is not confirmed in GSTR 2B/8A of GSTR 9, along with RCM tax paid by the company

Hyundai bets on CNG vehicles, sees rising demand in rural and urban India

Hyundai Motor India Ltd is betting big on CNG fuel option with sales of models equipped with the technology witnessing increasing demand across rural and urban markets in the country, according to a top company official. The company, which currently offers CNG option in its three models -- Grand i10 NIOS, AURA and EXTER -- has seen an increase in contribution of the CNG models to its domestic sales to 11.4 per cent in FY24 from 9.1 per cent in FY22. So far in the April-October period this fiscal, the contribution of CNG models to the company's domestic sales has risen to 12.8 per cent. Its overall vehicle sales across different fuel options stood at 3.54 lakh units in the domestic market during the period. "At present, India already has more than 7,000 CNG stations and aim is to have approximately 17,500 CNG stations by 2030 which will further fuel the CNG demand," HMIL Whole-time Director and COO Tarun Garg said on the reasons behind the company's bullishness on CNG models. With a

Hyundai Motor names Jose Munoz as CEO, first foreign leader of automaker

Munoz, 59, joined Hyundai in 2019 as global chief operating officer, with responsibility for the carmaker's north and south American operations

Hyundai Motor India shares skid 5%; record new low on muted Q2 performance

Looking ahead, the company anticipates better performance owing to the new launch of Creat EV in January, along with the recent launch of new variants of the Venue and Alcaazar models.

Hyundai Motor Q2 result: Profit drops 16.5% to Rs 1,338 cr on weak demand

The company's shares fell nearly 3 per cent before recovering to trade down about 1 per cent in late afternoon trading

Hyundai Motor India shares drop 3% on weak Q2 numbers; profit tanks 16% YoY

The fall in Hyundai Motor India's stock price follows its announcement of financial results for the second quarter of the FY25, which is also its maiden quarterly earnings since its market debut

Hyundai Motors unveils new hydrogen car in bet on clean fuel's future

The vehicle can also be connected to a household's electricity supply to act as a backup source of power, the company said

Analysts' bullish calls offset Hyundai Motor India weak debut; stock up 6%

The uptick in Hyundai Motor India's stock price follows the initiation of coverage with a bullish outlook by brokerage houses, including Motilal Oswal and Nomura

Hyundai Motor's Q3 operating profit falls 7%; misses analysts' estimates

Some analysts said its stock price decline on Thursday reflected disappointment about the lack of a shareholder return policy following the Indian IPO

Hyundai Motor India drops 7% in market debut after country's biggest IPO

HMIL's IPO had seen strong response from sovereign wealth funds and domestic mutual funds, but retail and wealthy investors sidestepped the issue amid a selloff in auto stocks and overall markets

HMIL's IPO shows our commitment to India, says Hyundai chief Chung

South Korean auto major Hyundai Motor Company is taking the next big step with the IPO of its Indian arm which shows its commitment to the country, Hyundai Motor Group Executive chair Euisun Chung said on Tuesday. Speaking at the listing ceremony of Hyundai Motor India Ltd (HMIL) here, Chung also said that the IPO also shows HMIL is a key part of India. Shares of Hyundai Motor India Ltd made a muted market debut and further fell by nearly 6 per cent against the issue price of Rs 1,960. The Rs 27,870-crore initial public offer of Hyundai Motor India Ltd, which had a price band of Rs 1,865-1,960 per share, was subscribed 2.37 times on the last day of the bidding on Thursday, helped by institutional buyers. With this fundraising, HMC has diluted its stake by 17.5 per cent in HMIL. This was the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore. The Initial Public Offer (IPO) was entirely an Offer For Sale (OFS) of 14,21,94,700 equity shares by promo

Hyundai Motor India falls 3% post listing: Should you buy, sell or hold?

Market analysts remain cautious on Hyundai Motor India, recommending profit booking and re-entry at lower levels, citing market volatility and the company's disappointing listing

Hyundai Motor India shares make poor start on bourses: List at 1% discount

On the National Stock Exchange (NSE), Hyundai Motor India listed at Rs1,934, reflecting a 1.32 per cent discount over its IPO price

IPOs in Samvat 2080: Rs 1.08trn raised; will Samvat 2081 keep frenzy alive?

Market analysts remain optimistic about the outlook for the Indian markets in Samvat 2081. In this backdrop, they expect more companies to test the markets in search for funds via the IPO route

Hyundai Motor India IPO GMP recoups before listing: What should you expect?

Shares of Hyundai Motor India are expected to make their debut on the bourses on October 22, 2024. Here's what the GMP trends suggest about the listing

Hyundai's historic India IPO signals new era for multinational listings

Hyundai's compatriot LG Electronics Inc. is also reported to be preparing for a potential IPO of its Indian unit