Hyundai Financial News

Shares of maintenance and repair firm HD Hyundai Marine Solution spiked nearly 50% in their trading debut Wednesday, marking a strong start to South Korea's largest IPO since January 2022.

Indian automotive sector, Tata's 'mini SUV' Punch has taken the lead as the best-selling model in the nation, surpassing some of Maruti's well-known models such as WagonR, Swift, and Brezza, TOI said in a report on Tuesday.

₹11,000. This will mark the debut of the fourth generation of the popular hatchback, which is set to renew competition with rivals like the Hyundai Grand i10 Nios and Tata Tiago. Ahead of the launch, a leaked brochure has provided insights into the engine and fuel efficiency of the new Swift, along with some of its key features.

₹4,685 crore but missed analysts’ estimates. More importantly, the Ebitda margin of 12.3% trailed consensus estimates of 12.8%. The margin miss was led by a one-off 60-basis-points impact related to CSR and material costs, coupled with reduced CNG vehicle production owing to a shortage of components.

Automakers had sold 332,468 passenger vehicles a year ago in April 2023. Car sales had grown by 9.5% to 368,086 units a month before in March 2024. But even while the growth rate moderated last month, on a high base, in terms of absolute volumes April was the 16th straight month that automakers in the local market clocked best-ever monthly sales. Partho Banerjee, senior executive officer (marketing and sales) at the country’s largest carmaker Maruti Suzuki said, “We have started this year on a high base. Compared to last year when supplies were disrupted due to the semi-conductor crisis, there is more stock in the network now. There is also some uncertainty due to the ongoing elections. Once the new government is formed, and policies are announced, there will be more certainty in the market. But overall, car sales are expected to grow in single-digits in FY25.”

M&M shares jumped as much as 5.15% to a new high of ₹2,169.25 apiece on the BSE. The auto major launched the XUV 3XO with prices starting from ₹7.49 lakh for the base MX1 variant. The new compact SUV is likely to compete with the likes of Tata Nexon, Hyundai Venue and Maruti Suzuki Brezza in a highly contested market segment.

Hyundai Motor Group plans to launch its first hybrid cars in India as early as 2026, three sources said, as the South Korean auto group looks beyond electric vehicles to boost its presence in a key auto market. The group, housing Hyundai Motor and Kia Corp, is evaluating a hybrid sport-utility vehicle of size similar to its top-selling, mid-sized Creta SUV in India, said two of the sources who have direct knowledge of the plans. Hyundai and Kia are both targeting the launch of hybrid SUVs in India in 2026 or 2027, one of the sources said, adding that their EV plans for India were also on track.

Two fatal crashes involving Ford’s Blue Cruise partially automated driving system have drawn the attention of U.S. auto safety regulators

Hyundai, Tesla and BMW. Individuals can check the database maintained by the National Highway Traffic Safety Administration on whether their vehicle has been recalled or not. The users will need to keep their Vehicle Identification Number or VIN ready before checking the database, as per a report on USA Today.

XUV3X0, with a starting price of ₹7.49 lakh, is the most affordable option in the compact SUV category, and is set to compete with the likes of Maruti Suzuki Brezza and Hyundai Venue. Despite its low price, it boasts a range of features that make it an attractive choice for budget-conscious buyers. In comparison, Maruti Suzuki's Brezza starts at an ex-showroom price of ₹8.34 lakh, while Tata Motors' Nexon begins with an ex-showroom price of ₹8.15 lakh.

electric vehicles is scheduled to commence by the end of 2024, with the official launch slated for 2025. Kia will also debut its India-made electric vehicle in the same timeframe, the group confirmed in a recent statement. By 2030, Hyundai and Kia intend to unveil five new electric models in the Indian market.

EVs, while also utilising the country as an export hub for the neighbouring countries. Chung visited India on April 23 to review the group's mid-to-long-term strategies to solidify its position as a leading mobility provider. Hyundai Motor Group is expanding its manufacturing footprint in the Indian region with the establishment of an annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India combined, the automaker stated.

₹18,100 crore. However, after initial allocation of the 50 GWh capacity, one of the selected applicants in the first round, Hyundai Global withdrew as the South Korean automobile major Hyundai Motor Company and its Indian arm Hyundai Motor India Ltd (HMIL) clarified that they had nothing to do with the company.

JSW Neo Energy, Reliance Industries, Lucas TVS, ACME Cleantech, Amara Raja, Anvi Power, and Waaree Energies have participated in auction of production linked incentives (PLI) for setting up new age battery manufacturing capacity in the country. An official statement said the companies have bid for setting up a cumulative capacity of 70 Giga Watt hours (GWh) while of sops are available only for 10 GWh. Technical bids for Rs 3,620 crore of PLI were opened on Tuesday. Bids have been received from these seven bidders under a global tender for the re-bidding of PLI for 10 GWh Advanced Chemistry Cell (ACC). The centre had approved a technology agnostic PLI Scheme under the National Programme on Advanced Chemistry Cell (ACC) Battery Storage in May 2021. The goal was to achieve manufacturing capacity of 50 GWh of ACC with a PLI outlay of Rs 18,100 crore.

Exide Industries, a leader in energy storage and management solutions, soared to yet another all-time high, reaching ₹481.70 per share, representing a 4.70% increase. This stellar surge in stock price has resulted in a cumulative gain of 54% over a mere nine trading sessions. The recent surge in the stock has escalated its one-year return to 148% and its two-year return to nearly 200%.

Hyundai Motors India was ordered by the National Consumer Disputes Redressal Commission (NCDRC) to pay Rs 15.1 lakh to Sukhjinder Singh, an owner of a Hyundai Verna car. This judgement came after Hyundai Motors India failed to rectify the car's problem and instead decided to fight against the legal order to replace the car's engine, in various consumer forums for almost 10 years. This long legal fight, was ultimately lost by Hyundai Motor India, in which the commission concluded that the manufacturer needed to replace the car's engine. However, considering the time taken for this fight to conclude, NCDRC ordered Hyundai Motors India to refund the car's purchase price plus accumulated interest to Singh. «In the present case, the car was purchased on 17.08.2011. As on date, over 13 years in its usable life have already lapsed. Even if the engine is replaced today, its utilisation is for a very limited time and the Complainant will not be able to benefit from the investment he made. This situation emerged due to non-compliance of the order of the District forum by Hyundai Motor India LTD on 17.06.2016 to replace the engine of the car,» said NCDRC at the case's hearing.

analysts. These stocks are expected to return between 19% and 35% as per analysts’ price targets. HDFC Life Insurance

₹423.80 apiece on the BSE. Morgan Stanley reiterated its ‘Overweight’ rating and raised Exide Industries share price target to ₹485 apiece from ₹373 earlier citing multiple levers for growth. The target price implies an upside potential of nearly 22% from Friday’s closing price.

India declined 5.5 per cent in FY24 due to the monetary crisis in various overseas markets, according to the latest data shared by industry body SIAM. Overall exports stood at 45,00,492 units in the last fiscal compared to 47,61,299 units in FY23. Commenting on the drop in overseas shipments last fiscal, SIAM President Vinod Aggarwal said the situation remains volatile in various overseas markets. «Some of the countries, where we are very strong with commercial vehicle and two-wheeler exports, have been facing foreign exchange-related issues,» he noted.

Federal investigators say the driver of a Ford electric SUV involved in a February fatal crash in Texas was using the company’s partially automated driving system before the wreck

ventured into lithium-ion battery making, crucial for EVs, by beginning the construction of a facility equipped with technology from China-based manufacturer SVOLT. The facility would have a capacity of 6 GWhr in the initial phase, entailing an investment of ₹4,500 crore to ₹5,000 crore. Of this, it has invested over ₹1,800 crore by December.