Hyundai Financial News

Hyundai Motor India Ltd (HMIL) will drive parent Hyundai Motor's ambitious strategy to make India a key export hub to expand its global business, besides seeking gains in the domestic market, said senior industry executives with knowledge of the matter. As part of this, the company plans to introduce nearly half a dozen electric vehicles over the next four years for local sales and exports, as more assembly lines come on stream in India. «Hyundai has been constrained by capacity the last couple of years,» said one of the persons cited. «The company has already enhanced capacity at its manufacturing plant in Chennai to 820,000 units per annum to meet domestic demand. With fresh capacity coming in from Talegaon in 2025, Hyundai is looking at ramping up exports from India which have been received well in markets in Latin America, the Middle East and Africa.» HMIL's revenue from exports rose 83% to ₹14,120.92 crore in the last three years, despite geopolitical uncertainties. Revenue from operations in the local market rose 39% to ₹33,274.83 in the same period. As much as 23.4% of the company's total revenue came from the sale of vehicles and parts overseas in FY23. In volume terms, exports accounted for about 21% of total vehicle sales in that fiscal year.

₹38,000 across selected variants (via HT Auto). The base model of the MG Astor remains priced at ₹9.98 lakh (ex-showroom), maintaining its competitive edge in the market.

Several South Korean retailers including Lotte and Hyundai are shutting down their non-fungible token (NFT) operations “one after the other” in a major blow to the sector.

Looking for a fuel-sipping car

Georgia Gov. Brian Kemp is on his way to South Korea in his sixth overseas trip as governor

Kia America is recalling nearly 463,000 Telluride SUVs — and urging owners to park their cars outside and away from other structures until an issue posing a fire hazard is fixed

NEW DELHI : Maruti Suzuki may consolidate its entry-level small car lineup in the next three to four years, as India’s largest carmaker reworks strategy for what was once its bread-and-butter business. According to two people aware of the plans, the company may also cap investments in the mid-size sedan segment, where it sells the Ciaz. The company that built its business on small cars has made a big splash in the SUV segment in recent years, launching models such as Grand Vitara, the new Brezza and Fronx.

A conservation group says it intends to sue two U.S. agencies, saying they failed to properly assess the environmental impacts of the sprawling electric vehicle plant Hyundai is building in Georgia

NEW DELHI : Car dispatches to dealers rose moderately in May, as India's automobile market enters a period of seasonally slow sales. During the month, wholesale shipments grew a modest 4.4% to cross 350,000 from a year earlier, data released by manufacturers showed. As intense heat waves in May kept potential buyers at home and the nation got busy with the general election, retail sales fell from April, but were flat from a year earlier.

dispatches from the manufacturers to the dealers over the year-ago period, said executives at manufacturers that released the monthly sales figures on Saturday.

The U.S. Department of Labor wants a federal judge to prevent Hyundai and two other Alabama companies from what the government contends is the illegal employment of children

stockpile of 400,000 vehicles worth ₹44,000 crore by this month-end as demand cools in India after a 3-year run of scorching sales. With car despatches to dealers outpacing demand, passenger vehicle registrations, taken as a proxy for retail sales, are also expected to fall by 5% in May from a year earlier. The likely decline — 2nd this year — comes amid election-related uncertainties, completion of marriage season, and heat waves in several key markets especially Delhi NCR, said industry executives. Automakers are expected to end May with wholesales or factory despatches to dealers of 340,000-350,000 vehicles, up 4-4.5% from a year earlier. As per dealers, planned shutdowns by some companies will help in moderating production volume and managing inventory. «Pre-Covid stocks for the industry used to be in the range of 45 days. This has dropped to 2-3 weeks after pandemic. Industry stocks are high,» said Hardeep Singh Brar, national sales head at Kia India. He expects sales to rebound after the new government takes charge. «Forecast for monsoons is good. Interest rates are expected to come down later in the year, with inflation under control. Given the high base for the entire year, sales growth is likely to be in low single digits,» he said.

Hydrogen is the most abundant substance in the universe, and a crucial element in the creation of our most precious resource: water. Initiatives outlined by carmakers last week are breathing new life into plans to use the gas as fuel. They’re also a reminder that making the world run on hydrogen will need considerable support from diversified businesses such as North Asia’s storied conglomerates. The most promising path to exploiting hydrogen is to store the gas in a tank, as you would gasoline, then feed it into a fuel cell where it combines with oxygen to create an electric current, with water as a byproduct. Put this in a car and you have a fuel-cell electric vehicle. Recently, industry has turned to green hydrogen, created by running an electric current through water with an electrolyte. The machines that do this are called electrolyzers, and like battery EVs, they are only truly green if the original electricity source comes from renewables. Parking an electrolyzer near a wind farm, solar array or hydroelectric dam would be ideal because you can use renewable energy to deliver clean electricity directly to the hydrogen-production facility. But the gas would still need to be transported to refueling stations, possibly through natural gas pipelines.

fuel car purchases in May. “During the peak heat hours from 12 pm to 4 pm, it feels like the showroom is closed. Only customers with planned deliveries are coming in," said Vinkesh Gulati, director of United Automobiles, which runs 12 passenger vehicle and two-wheeler showrooms in the National Capital Region and Eastern Uttar Pradesh.

SUV lineup with the Clavis, following the success of the Sonet and Seltos. The Clavis, spotted multiple times during testing on Indian roads, is expected to fit between the Sonet and Seltos in terms of size. This new model is likely Kia's response to rivals like the Tata Curvv and Citroen Basalt.

Also Read: FPO lock-in expiry: Vodafone Idea share price to gain focus today as anchor investors' 30-day lock-in period endsThe Hyundai Motor India IPO is likely to be purely an OFS (offer for sale) by the parent and slated to be India’s largest IPO, as the South Korean auto major plans to raise between $2.5 billion to $3 billion via the issue, the report added.The IPO is likely to value the Indian arm at around $20 billion and the OFS figure as part of discussions currently is 15% which hasn’t been frozen yet, it said.However, the valuation and IPO size haven’t been finalized which may vary depending on the company strategy and market conditions, the sources told Moneycontrol.Also Read: Upcoming IPOs: Five SME issues and two new listings scheduled for this week; check full list hereAt present, the Life Insurance Corporation of India (LIC) IPO is the largest IPO in India which raised $2.7 billion in May 2022.In FY24, Hyundai Motor India was India’s second largest carmaker after Maruti Suzuki in terms of passenger sales volumes.

average age of Indian consumers of cars, premium smartphones and large televisions has dropped by up to seven years in the past 5-6 years, reflecting a major shift in consumer buying pattern towards younger demographics. Top car makers such as Maruti Suzuki, Hyundai Motor and Mercedes-Benz say the average buying age, including for luxury vehicles, has fallen from the 40s to almost mid-30s between 2018-19 to 2023-24. Companies said over 70% of electric cars are currently bought by those in their 20s and 30s. In the same period, the average age for Apple iPhone buyers has declined from 33-34 to 28-29 and for large screen televisions (size 55-inches and upwards) from 35-36 years to 29-30, as per industry estimates. Similar is the case with frost-free refrigerators and dishwashers.

Rishabh Jasuja, an IT manager, was reportedly returning from work when he had parked his car outside the residence of Manoj Bharadwaj. The latter is a resident of Sector 49 in Gurugram. The younger brother of the deceased, who too was dragged by the car is critical and is being treated in a hospital, said police.

Fans of Korean pop bands around the world are increasingly channeling their millions-strong online community into climate and environmental activism

₹10 lakh bracket, but the product has to be right." Banerjee said Maruti has "made significant investments" in the entry-segment too, like upgrading the K10B engine to K10C, which powers the Alto K10 and Celerio models. “If many of our competitors feel SUVs is the bigger segment, we feel there is an opportunity in hatchbacks also as India's economy grows", he said. Hatchbacks fetched 45% to Maruti's overall sales in FY24, and nearly 50% in April this year.

Toyota, Hyundai, Mercedes-Benz and a host of other global automakers are increasingly turning to Chinese tech giants in a bid to claw back market share in one of the world’s largest—and fastest-changing—auto markets. In recent days, South Korea’s Hyundai Motor and Kia have unveiled plans to work with Chinese internet giant Baidu on mapping and artificial-intelligence technologies for auto-driving and vehicle software systems in China, while Nissan Motor said it would partner with Baidu on AI and Toyota has tapped gaming giant Tencent for help on AI models, cloud services and big data.