Page 7 - Hyundai Motors

Hyundai announces Rs 6,180 cr investments at TN Global Investors Meet

Hyundai Motor India Ltd on Monday said it will invest Rs 6,180 crore on various initiatives, including establishing a hydrogen resource centre, in Tamil Nadu. The fresh investment by the automaker is in addition to the Rs 20,000 crore it plans to deploy over a period of ten years (2023- 2032) to augment its efforts in electric vehicle manufacturing, charging infrastructure and skill development. The company inked an MoU with the state government regarding the new investment during the Tamil Nadu Global Investors Meet 2024. "This substantial investment of Rs 6,180 crore is a testament to our enduring commitment to fortifying the state's pursuit to boost the socio-economic development in the state and make the country self-reliant," Hyundai Motor India MD & CEO Unsoo Kim said in a statement. This collaboration with the state government goes beyond mere investment; it is a catalyst for cultivating a robust hydrogen technology ecosystem that mirrors the company's commitment to ...

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.

OEM, dealers to play Santa during year-end for EV passenger vehicles

Carmakers, dealers offering discounts up to Rs 4 lakh

Hyundai, Ducati latest automakers to increase vehicle prices from January 1

Automaker Hyundai Motor India Ltd on Thursday said it will hike the prices of its vehicles from next month citing rising input cost, adverse exchange rate and increase in commodity prices. The company, which sells a range of vehicles starting from Grand i10 Nios to electric SUV IONIQ5, priced between Rs 5.84 lakh to Rs 45.95 lakh, however, did not specify the quantum of the proposed price increase to be effective from January 1, 2024. The price increase is owing to rising input cost, adverse exchange rate and increase in commodity prices, amongst other reasons, Hyundai Motor India Ltd (HMIL), said in a statement. HMIL COO Tarun Garg, COO said the company always tries to absorb the cost escalations to the extent possible and ensure customers are not burdened. "However, it has now become imperative to pass on some portion of the rising input cost to the market through a minor price increase," he added. HMIL said it will continue to make consistent internal efforts to minimize future

Cyclone Michaung: Life halts as Chennai sees worst rainfall in decades

Cyclone Michaung takes its toll: 5 dead; road, air, rail traffic affected; Foxconn, Pegatron, Hyundai ops hit

Hyundai Motor sets sight on domestic sales of 600,000 units in CY2023

HMIL also reiterated its plans to invest around Rs 20,000 crore strategically towards building an electric vehicle (EV) ecosystem in India

Car sales to cross 4 mn mark this year on strong demand despite price hikes

Carmakers are expecting sales of 4.10 to 4.17 mn cars this calendar year. This is 8-10% more than the sales registered in 2022, despite the high base of last 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

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

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

As workers begin strike, GM says it offered 7X the required compensation

The erstwhile workers of General Motors India started their indefinite hunger strike on October 2, protesting their alleged non-absorption by Hyundai Motor India

Hyundai reports highest ever monthly sales in September at 71,641 units

Hyundai Motor India on Sunday said its total wholesales increased 13 per cent year-on-year to 71,641 units in September, its highest ever in a month. The country's second largest carmaker had dispatched 63,201 units to dealers in September last year. Domestic sales last month rose to 54,241 units, up 9 per cent from 49,700 units in September 2022, Hyundai Motor India said in a statement. Exports were higher at 17,400 units last month from 13,501 units in September 2022, an increase of 29 per cent. "While the industry grew by 2 per cent last month, our domestic dispatches were up 9 per cent. The share of SUV sales in our overall volumes continues to grow," Hyundai Motor India COO Tarun Garg told PTI. The ongoing festive season has resulted in strong sales momentum, helping the automaker achieve 9 per cent growth, he added. "Our strong SUV portfolio has received a further boost with the exceptional customer response to the newly launched Exter," Garg said. The company has garnere

Hyundai i20 facelift now starts at Rs 6.99 lakh, drops the turbo-petrol

The turbo petrol will be reserved for the N Line variant of the Hyundai i20 which will be launched at a later date

ADAS: The new buzzword in car market, everything you need to know about it

ADAS can detect lane departures and can either warn the driver about the lane departure or, in higher-level ADAS cars, take control of the steering and put the vehicle back in the lane

Hyundai Motor August sales grow 15% YoY, total dispatches at 71,435 units

Hyundai Motor India on Friday said its wholesales increased by 15 per cent year-on-year to 71,435 units in August. The automaker had dispatched 62,210 units to its dealers in August last year. Domestic sales rose 9 per cent to 53,830 units last month, from 49, 510 units in the year-ago period, the South Korean automaker said in a statement. Exports increased 39 per cent to 17,605 units last month from 12, 700 units in August 2022, it added. "The company's sales number of 71,435 units is a key indicator of an ever-growing acceptance of our products in both domestic and export markets," Hyundai Motor India COO Tarun Garg noted. The festival season in India has kicked off on a positive note with strong Onam sales in Kerala market and this is an indication of the festive fervour in other parts of the country in the coming months, he added. Demand for SUVs in the company's portfolio remains robust, contributing more than 60 per cent to domestic wholesales in August, Garg said.

Hyundai signs deal to acquire General Motors' Talegaon manufacturing plant

Facility in Maharashtra has annual production capacity of 130,000 units

Tata Punch CNG launched at a starting price of Rs 7.1 lakh, see details

The Punch is based on the same ALFA (Agile, Light, Flexible, Advanced) architecture on which the Tata Altroz has been built and got five-star safety ratings from the Global NCAP

Hyundai, Kia recall 91,000 vehicles in US over damaged electrical component

The models that are likely to be recalled include Hyundai 2023-2024 Palisade, 2023 Tucson, Sonata, Elantra, and Kona vehicles and 2023-2024 Seltos, 2023 Kia Soul, and Sportage

Hyundai July sales: Total sales up 4% YoY at 66,701 units, exports rise 20%

Hyundai has launched its micro SUV Exter which is a rival to Tata's Punch. So far, the Exter has been received very well with waiting periods for some variants going up to one year

Manufacturing companies opt for flexible work rules in post-coronavirus era

Deloitte's India Benefits Report 2023 findings reported that one-third of about 80 manufacturing firms have changed their policies to enable hybrid working arrangements post Covid-19

Kia Seltos facelift launched at an introductory price of Rs 10.90 lakh

The South Korean car manufacturer originally launched Seltos in June 2019 and became an instant hit among Indian car buyers