Hyundai Financial News

Hyundai Motor India Ltd (HMIL) on Thursday said it will set up two renewable energy plants at its vehicle manufacturing unit in Tamil Nadu as part of the company's move to transition to 100 per cent renewable electricity across manufacturing operations by 2025. The company has signed a power purchase and shareholder agreement with Fourth Partner Energy Ltd (FPEL) for the purpose of setting up of a 75 MW solar plant and a 43 MW wind power plant to cater to its renewable energy requirements, Hyundai Motor India Ltd (HMIL) said in a statement. These facilities will operate under a group captive mode with a special purpose vehicle (SPV) formed for engineering, procurement, construction, operations and maintenance. HMIL will hold 26 per cent and FPEL will hold 74 per cent equity stake in the project, it added. This long-term agreement will ensure a 25-year supply of renewable energy to HMIL, the company said.

Subscribe to enjoy similar stories. Hyundai Motor India Ltd’s lukewarm stock market debut in October was followed by an equally underwhelming maiden quarterly performance. A key disappointment was the 70-basis-point (bps) sequential drop in operating margin, which fell to 12.8% in the September quarter (Q2FY25).

Hyundai Motor India Ltd is betting big on CNG fuel option with sales of models equipped with the technology witnessing increasing demand across rural and urban markets in the country, according to a top company official. The company, which currently offers CNG variants in three models – Grand i10 NIOS, AURA, and EXTER – has seen the share of CNG models in its domestic sales rise to 11.4% in FY24, up from 9.1% in FY22. From April to October this fiscal year, the share of CNG models in the company’s domestic sales has increased to 12.8%. During this period, its total vehicle sales across all fuel types in the domestic market reached 3.54 lakh units.

Donald Trump's transition team is planning to kill the $7,500 consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters. Ending the tax credit could have grave implications for an already stalling U.S. EV transition. And yet representatives of Tesla — by far the nation's biggest EV maker — have told a Trump-transition committee they support ending the subsidy, said the two sources, speaking on condition of anonymity. Tesla CEO Elon Musk, one of Trump's biggest backers and the world's richest person, said in July that killing the subsidy might slightly hurt Tesla sales but would be «devastating» to its U.S. EV competitors, which include legacy automakers such as General Motors.

According to a research report by Jefferies, the combined market share of the two top automobile manufacturers--Maruti Suzuki and Hyundai--has slipped to a 12-year low in the first half of fiscal year 2025 (1HFY25). This shift highlights a dynamic change in consumer preferences and competitive positioning within the PV sector.

The decision of the companies will depend on final guidelines, or standard operating procedures, of the policy that the government is expected to announce in the next three to four months, the people said. The Scheme to Promote Manufacturing of Electric Passenger Cars in India was unveiled in March, this year.

NTPC Green Energy has set a price band of Rs 102 to Rs 108 per share for its Rs 10,000 cr ($1.19 billion) initial public offering (IPO), a newspaper advertisement showed on Wednesday. The renewable energy firm's IPO will open for bids on Nov. 19 and close on Nov. 22. Large «anchor» investors will bid on Nov. 18.

The car manufacturer said that the decline in PAT was owed to weak market sentiments and geo-political factors. The company’s revenue from operations fell 7% YoY to Rs 17,260 crore during the quarter.

Most of the earnings so far have been muted in the second quarter for India Inc as analysts had already predicted the slowest numbers in over four years as Nifty earnings may grow marginally by just 2% year-on-year.

National Stock Exchange (NSE) on Friday said it wants to launch its IPO, which could beat Hyundai's record of largest public issue, not for price discovery of its shares but for the sake of transparency and accountability. “The IPO will increase transparency and accountability. We are valued at around Rs 4.75 lakh crore in the unlisted market and as India's largest exchange we should be accountable to the market," Sriram Krishnan, Chief Business Development Officer, NSE, told reporters in New Delhi on Friday.

Maruti Suzuki India and Hyundai reported muted sales performance in October as the companies curtailed dispatches to dealers in order to cut inventory build up. The country's largest carmaker Maruti Suzuki India (MSI) said its total domestic passenger vehicle wholesales were at 1,59,591 units last month compared with 1,68,047 units in the year-ago month, a decline of 5 per cent. The company, however, reported its highest-ever monthly sales, including exports, in October at 2,06,434 units, a 4 per cent year-on-year growth over the same month last year. MSI Senior Executive Officer (Marketing and Sales) Partho Banerjee said the company saw its highest-ever retail sales in an October.

Indian carmakers reported a surge in sports utility vehicle sales to dealers in the festive month of October, company data showed on Friday, while the small-car segment stayed sluggish, highlighting customers' increasing preference for larger, premium cars. Maruti Suzuki, India's No. 1 carmaker in terms of market share, posted a 19.4% rise in SUV sales to hit a record high, while No. 2 SUV-maker Mahindra and Mahindra posted its highest monthly sales in the current fiscal year, a 25% rise.

vehicle demand. The Nifty Auto index has declined over 11% in the past month as against the 5.7% decline in the benchmark Nifty. Analysts said the Auto index could drop at least 10-15% from the current levels. «Post-Covid, auto shares have experienced a bull run, and despite some adjustments over the past six months, valuations remain stretched,» said Krishna Appala, senior research analyst, Capitalmind Research. «If earnings growth doesn't hold up, corrections of around 10-15% are likely, as share prices have already surged over the last three years.»

passenger vehicle market is witnessing a paradox this festive season: some models command waiting periods of up to 96 weeks with no discounts while others are offering cash discounts as high as ₹4.5 lakh to manage inventory pileups. This highlights a growing segmentation between premium and volume players in one of the world's largest auto markets even as most PV dealers report a 10% month-on-month sales growth in October after a relatively slow start in the festive season. Several mainstream manufacturers are offering substantial discounts on select models to stimulate sales while Toyota's Land Cruiser leads the waiting period chart at 96 weeks, according to data collated by Jato Dynamics. MG leads the discount wave with up to ₹450,000 off on its Gloster SUV, followed by Mahindra's XUV400 and Hyundai's Kona with discounts of ₹300,000 and ₹200,000. At the same time, several electric vehicles and premium SUVs from manufacturers like BYD and Hyundai continue to see waiting periods ranging from 4 to 32 weeks.

Subscribe to enjoy similar stories. The Indian stock market recently witnessed a landmark event – the successful completion of Hyundai Motor India’s ₹27,870-crore initial public offering, the country’s biggest IPO to date. The last time a car maker went public was in June 2003, when Maruti Suzuki launched its ₹990-crore IPO.

weak debut on the bourses with the stock opening at ₹1,931 on Tuesday, over 1% below its Initial Public Offer (IPO) price of ₹1,960. The stock ended at ₹1,820.40, 7.1% below the issue price, continuing the first-day weak show trend among large IPOs. Hyundai's ₹27,870 crore IPO last week was the largest ever in India's primary market.

By the close of trading, Hyundai Motor's stock dropped further, ending at ₹1,820.40 on the BSE, reflecting a 7.1% loss from the issue price. The disappointing start came despite the IPO being oversubscribed more than two times, with retail investors showing relatively less interest by purchasing only half the tranche allocated to them.

Subscribe to enjoy similar stories. Stock of Hyundai Motor India Ltd, only the second pure-play passenger vehicle maker to be listed on the Indian stock exchanges after Maruti Suzuki India Ltd, debuted on the National Stock Exchange (NSE) at ₹1,934 on Tuesday, a slight discount to its issue price ₹1,960. The issue—a milestone for both the company’s parent Hyundai Motor Co.

Subscribe to enjoy similar stories. Hyundai Motor’s record initial public offering in India didn’t get off to a good start, but it could still steer the country’s market into new territory. Shares of Hyundai Motor India, the Indian unit of the Korean carmaker, slipped 4% in the first day of trading Tuesday, after raising $3.3 billion in the country’s largest ever IPO.