Hyundai Financial News

Shares of electric vehicle giant, Tesla (NASDAQ:TSLA) are trending down more than 1.5% in pre-market trading Thursday morning after it was announced that the company notified workers at its California car plant of pay increases across its US factories.

2024 Creta exhibits a more robust appearance in contrast to its predecessor. The outgoing model had a rounded profile, while the new version appears more squared-off. Notable enhancements include fresh LED lighting elements, a lightbar, a redesigned grille, skid plate, and bumper.

While electric vehicles are gaining the lion’s share of the attention for carbon-neutral technology at CES 2024, hydrogen energy has snuck its way back into the conversation thanks to two automotive giants

upgraded version of the Hyundai Creta on January 16, Hyundai today relased fresh images of Creta facelift. The new Creta will come with a revamped design, improved dynamics, enhanced safety features, additional functionalities, new color options, and much more. Bookings for the updated SUV have already begun, and interested customers can reserve their vehicle by visiting the nearest dealership or booking online with an initial payment of Rs 25,000. Here are the five major changes in the new Creta, its expected price, and more. The first significant change in the new Creta lies in its design. The SUV now boasts a more upright and boxy appearance, featuring a new grille, headlamp, and bumper. The grille is adorned with chrome inserts and a full-width LED light bar with inverted L-shaped elements at the edges. Additionally, vertically stacked headlamps are placed on the lower bumper. The sides of the vehicle are expected to remain unchanged, except for newly designed 18-inch alloy wheels. Moving to the rear, the SUV showcases a completely redesigned tailgate and full-width LED tail-lamps, mirroring the front design. The SUV also sports a sporty diffuser and a reimagined number plate housing. The second major change in the new Creta can be seen in its interior. The SUV now features a revamped dashboard layout, incorporating twin 10.25-inch screens for instrumentation and the infotainment system. The center console has also been redesigned, showcasing central AC vents and a single band of physical buttons.

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.

Global Investors Meet 2024 organised by the Tamil Nadu government here. “Don't oversubsidize manufacturing and think that's the only part to growth... Services are also a big part of the growth story, and let's not treat services as a stepchild less valuable, less amenable to low-skilled jobs.

By Praveen Paramasivam

Tamil Nadu has signed investment pacts worth more than $4.39 billion with firms such as Apple suppliers Tata Electronics and Pegatron, as well as auto major Hyundai Motors, it said on Sunday during the state's Investor Summit. Apple is counting on India as the next big driver of its growth as the tech giant looks to diversify some production away from China, with Pegatron working towards a second factory in the country where Tata Group last year began to assemble iPhones.

CHENNAI : India's southern state of Tamil Nadu has signed investment pacts worth more than $4.39 billion with firms such as Apple suppliers Tata Electronics and Pegatron, as well as auto major Hyundai Motors, it said on Sunday. Apple is counting on India as the next big driver of its growth as the tech giant looks to diversify some production away from China, with Pegatron working towards a second factory in the country where Tata Group last year began to assemble iPhones. Tata Electronics, a part of the Indian conglomerate, committed to invest ₹12,080 crore for mobile phone assembly operations, the state government said during the signing of the agreements.

Made-in-India cars are finding increased global acceptance with top carmakers pushing exports to make the most of the strong cost and talent advantage available in the country. Toyota, Volkswagen, Hyundai, Mahindra, Tata Motors, Honda and Skoda have all reported significant jumps in exports in 2023 even as market leader Maruti Suzuki hit a new high by exporting 261,700 passenger vehicles including cars and SUVs, data by Jato Dynamics show. With the Indian regulatory norms moving towards global standards, vehicles being developed and sold here need minimum adaptation for export markets, industry officials said. India's low-cost manufacturing, arbitrage in labour costs, availability of skilled manpower, and a well-developed supplier base offer carmakers a competitive cost advantage, they said. «With increasingly stringent regulations focusing on safety, emissions, and technological advancements, car manufacturers are investing in research, development, and innovation,» said Piyush Arora, managing director and CEO of Škoda Auto Volkswagen India.

₹25,000. The manufacturer has initiated the dispatch of the Creta Facelift to its dealers, and images of the SUV's exterior have surfaced after being spotted in a dealership yard. The redesigned 2024 Creta appears to draw significant inspiration from the Venue and Tucson models.

₹88,600 if they opt to purchase one of these sedans by January 31. This month, the Honda City is eligible for the highest benefits, allowing buyers to avail savings of up to ₹88,600 on the sedan purchase. The City comes with a cash discount of ₹25,000 or the option of complimentary accessories valued at ₹26,947.

By David Shepardson

Most of us struggle with making those New Year’s resolutions stick

The Kia EV9 large electric SUV won the 2024 North American Utility of the Year award, while the Toyota Prius hybrid took the top car honors, and Ford’s Super Duty pickup won the truck award

car sales, only four companies — Hyundai, Tata Motors, Mahindra & Mahindra and Toyota — hit new highs, amid weak demand at the lower end of the market. Market leader Maruti Suzuki got to 1.71 million units, but that was still short of its pre-Covid record of 1.73 million units registered in 2018. Honda reported sales of 84,289 units last year, significantly lower than its peak volume of 202,403 units in 2015. Volkswagen sold 43,481 units, short of its high of 66,783 units in 2012.

₹25,000. Significant modifications are anticipated in both the exterior and interior of the Creta facelift, with the manufacturer providing a sneak peek into the redesigned cabin. The upcoming Hyundai Creta is adopting a more minimalist approach to its dashboard design this time around.

Hyundai plans to take a lead in electrification and focus on optimizing profitability by strengthening its global electric vehicle (EV) production infrastructure, establishing flexible business strategies to adapt to market changes, and reinforcing preemptive risk management capabilities," Hyundai said in a statement. In 2023, Hyundai Motor and Kia managed to market 7.3 million automobiles, falling approximately 3% short of their collective goal of 7.52 million. This shortfall was predominantly attributed to challenging economic conditions marked by escalating interest rates and inflation, factors that rendered certain vehicles financially inaccessible for a portion of potential buyers.

₹11.5 lakh in 2023, 40% more than ₹8.2 lakh in 2019, and 9.5% higher than ₹10.5 lakh in 2022. Apart from higher production costs due to costlier inputs and mandatory safety tech, a higher share of costlier SUVs and customer preference for top models have also been driving up average purchase prices in 2023. A total of 287,904 passenger vehicles were dispatched from factories to dealerships in December, Srivastava said, the highest ever for the month, crossing the previous record of 276,000 units in December 2020.

Hyundai now epitomises a high level of safety for our esteemed customers. HMIL is the first mass automobile brand in India to standardize six airbags across all models and trims, reinforcing our commitment to safety.

Hyundai Motor India achieved the highest-ever domestic sales in the calendar year 2023, surpassing the six lakh sales milestone. The automaker recorded sales of 6,02,111 units, registering a 9 per cent increase over the previous year's 5,52,511 units. Additionally, Hyundai Motor India elevated its export performance by 10 per cent, shipping 1,63,675 units in 2023 compared to 1,48,300 units in the previous year. In December 2023, Hyundai Motor India achieved total sales of 56,450 units, comprising 42,750 units in domestic sales and 13,700 units in exports. «HMIL has not just kept pace but surpassed industry growth (estimated at around 8.2%), a testament to customers choosing brand Hyundai as their preferred mobility brand,» said Tarun Garg, Chief Operating Officer, Hyundai Motor India. «Also, in 2023, we proactively expanded our annual production capacity by 50,000 units to meet the increasing demand from our customers.» The automaker presently operates from 1,366 sales points and 1,548 service points across India. The model line-up consists of 13 car models across segments: Grand i10 NIOS, i20, i20 N-Line, AURA, EXTER, VENUE, VENUE N-Line, VERNA, CRETA, ALCAZAR, TUCSON, KONA Electric and all-electric SUV IONIQ 5. Its fully integrated, state-of-the-art manufacturing plant near Chennai boasts advanced production, quality, and testing capabilities.