Hyundai Financial News

Hyundai Motor India Ltd increased its UV production to 91,206 in Q1Fy24 from 81,100 in Q1FY23. Kia Motors witnessed a fall in its production to 80,272 units in Q1FY24 from 84,161 units in Q1FY23. Mahindra & Mahindra witnessed a significant rise in UV production to 98,145 units in April-June quarter against 74,298 in the same period.

Large multi-utility vehicles like the Toyota Innova Crysta, as well as SUVs like the Scorpio-N, Hyundai Alcazar and MG Hector Plus and the upcoming new Kia Carens will attract a compensation cess of 22%, as the GST Council clarifies a vehicle no longer has to be "popularly known as an SUV" to attract 22% cess as long as it meets a set of criteria related to height, ground clearance and engine capacity. However, strong hybrid versions of the Innova Hycross & Maruti Suzuki Invicto will continue to be taxed at 20% cess as they benefit from the 2% relaxation in cess given to hybrid vehicles.

Mintlooks into the top trends from FADA’s data released last week:   Overall vehicle sales grew by 10% over June 2022, but declined sequentially. Two-wheelers took the biggest hit (12% drop since May 2023), and are also one segment that is still behind the pre-covid level. In May, FADA had urged the Goods and Services Tax (GST) Council to lower the GST rate from 28% to 18% on two-wheelers to help revive the segment.

Hyundai is seeking to outperform the industry in FY24, banking on the sales of micro-SUV Exter that will take on Tata Punch at the heart of the sub-Rs 10 lakh market. The carmaker has so far added three new products — micro SUV Exter, premium sedan Verna and high-end EV Ioniq 5 — in its portfolio this year. It has expanded volumes 11 between January and June.

Maruti is now a leading player in the auto industry’s Rs 10-20 lakh segment with a market share of 23 per cent for Q1 of FY 2024. The company was able to overtake its market rivals such as Hyundai, Tata Motors and Mahindra & Mahindra (M&M) by launching its premium models.Maruti Suzuki’s premium models such as 4x4 Jimny off-roader and Invicto MPV which is considered to be a twin of Toyota Innova priced upwards at Rs 25 lakh, have been pushing sales in the premium segments as it vies for better product margins, improved profitability, and high-income customers. «With a share of 23 per cent in the Rs 10-20 lakh category at the end of the first quarter (Q1) of FY24, Maruti leads the segment as we sell the maximum with models such as the Grand Vitara and Brezza SUVs, XL6 MPV, and the just-launched Jimny,» said TOI quoting Shashank Srivastava, director (sales & marketing) at Maruti Suzuki. The automaker's sales of Rs 10 lakh-plus vehicles increased dramatically in the past four to five years.

market capitalization. Tata Motors shares on Monday hit a  record high after its Jaguar Land Rover (JLR) unit reported 30% year-on-year (y-o-y) jump in global wholesale dispatches in the June quarter of this fiscal year. Tata Motors shares rose 0.19% to close at Rs619.40.

Hyundai Exter was introduced in India today. Claim...

₹5.99 lakh and a top variant priced at ₹9.31 lakh (ex-showroom prices). The Hyundai Exter SUV is the smallest among all Hyundai SUVs in the Indian market and also stands as the most budget-friendly option in its category from the brand. The Hyundai Exter SUV is entering a highly competitive market currently led by the Tata Punch and recently joined by the Maruti Suzuki Fronx.

SUV from the renowned Korean brand. Despite its compact size, the Exter boasts an abundance of style and is packed with an impressive array of features. Positioned below the Venue in Hyundai's product lineup, the Hyundai Exter primarily focuses on attracting young car buyers.

₹11,000.The Hyundai Creta has managed to maintain its popularity despite the new rivals. Hyundai is also determined to ensure its presence across all segments of the SUV market.

₹30 lakh, to take on the likes of not only the likes of Kia Carens and Hycross but also three-row SUVs such as the XUV700, Hyundai Alcazar and the Scorpio-N. “We see 58% cross-consideration between MPVs and SUVs in the three-row utility vehicles segment, which is higher than other segments," Srivastava added.

Maruti Suzuki is betting big on strong hybrid and compressed natural gas vehicles and expects cumulative sales of these models in the ongoing financial year to inch closer to peak volumes the company had reported in the diesel vehicle segment five years ago. Maruti Suzuki, which stopped production and sale of diesel vehicles ahead of the transition to BSVI emission norms in April 2020, had reported best-ever sales of diesel vehicles of about 480,000 units in FY18.

Hyundai Exter. As revealed by the auto manufacturer, the Exter SUV will come in six single-tone and three dual-tone color options including Cosmic Blue and Ranger Khaki. Here’s everything that we know about the SUV so far Bookings of the Hyundai Exter SUV are currently open.

cost-conscious market. The share of the Rs 7.5-25 lakh price segment is currently the largest at 67%. Within this, the Rs 7.5-12.5 lakh price band, at 42%, is the biggest, according to Jato Dynamics data.

By David Shepardson

Maruti and you think of a small, workhorse car that endures and needs little maintenance. Maruti Suzuki India Ltd became India's biggest car maker riding high on that image. But what remained a boon for decades started to look like a curse later.

Hyundai Creta that saw a 4.76% year-on-year increase in sales. The SUV found 14,447 homes in June 2023 as compared to 13,790 in the same month last year. Creta contributed to 14.21% of total SUV sales made in June this year.

Maruti Suzuki, Tata Motors, Hyundai Motor India and Hero MotoCorp rise, these companies are rewarding their employees with salary increases averaging more than 10%. «With the excellent efforts of employees, Maruti Suzuki has performed well in FY23,» said Rajesh Uppal, member executive board, HR, Maruti Suzuki, which recorded the highest-ever turnover of ₹1 lakh crore. «Our sales of 19.66 lakh units were the highest ever… the company recognises the efforts of employees and shares the fruit of their good work with them,» Uppal told ET.

By Pratyush Thakur and Shivansh Tiwary

Mumbai: Sport utility vehicles (SUVs) and minivans, the two segments with significant sales traction, see a spike in incentives. The minivan segment saw average incentives jump from Rs 33,720 in May this year to Rs 43,727 in June 2023. The SUV segment, too, saw similar incentive increases from Rs 32,296 to Rs 42,215 for the same period.

As per industry estimates as many as 327,700 units were sold last month, which is an increase of 1.9% over 326,600 units sold in the same period last fiscal. With this, sales of passenger vehicles in the first half of the year rose to over 2 million units for the first time in the country. Automakers in India mostly report wholesale dispatches from factories to dealerships and not retail sales to customers.