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Hyundai Motor India recalls 1,744 units of Ioniq 5
Money Control
·
1y ago
Medial
Hyundai Motor India is recalling 1,744 units of its electric model Ioniq 5 due to an issue with the integrated charging control unit. The recall affects vehicles manufactured between July 21, 2022, and April 30, 2024. The potential issue with the control unit could lead to the discharging of the 12V battery. Hyundai has stated that the recall is a proactive step to ensure customer safety, and affected vehicle owners will have the part inspected and upgraded at no cost. The Ioniq 5 is priced starting from Rs 46.05 lakh (ex-showroom).
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Waymo in talks with Hyundai Motor to produce self-driving taxis
Economic Times
·
10m ago
Medial
Alphabet's Waymo is reportedly in discussions with Hyundai Motor to manufacture its self-driving vehicles. Waymo is considering using Hyundai's Ioniq 5 electric vehicles for its sixth-generation self-driving technology, potentially replacing China's Zeekr vehicles that Waymo is currently testing. These talks come as President Joe Biden's administration imposes increased tariffs on Chinese imports, including electric vehicles. Waymo declined to comment on the speculation, but confirmed they are working on validating their technology on the Zeekr platform. Hyundai Motor stated that no decisions have been made regarding new business ventures, referring to their vehicle platform for self-driving tech companies.
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Hyundai sales dip 7 pc in July
Economic Times
·
7d ago
Medial
Hyundai Motor India reported a 7% decline in total sales for July, with 60,073 units sold compared to 64,563 units the previous year. Domestic vehicle dispatches to dealers dropped over 10% to 43,973 units, while exports increased slightly to 16,100 units. Despite recent softness in the auto industry, Hyundai remains optimistic due to the upcoming festive season, preparing with improved supply and product offerings, according to COO Tarun Garg.
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Hyundai Motor India records highest-ever sales of 7.77 lakh units in FY24
Thehindubusinessline
·
1y ago
Medial
Hyundai Motor India (HMIL) announced that it achieved its highest-ever domestic sales in the financial year 2023-24, with 6.14 lakh units sold, an 8.3% increase from the previous year. The company also recorded its highest-ever annual total sales of 7,77,876 units, an 8% growth compared to FY 2022-23. Toyota Kirloskar Motor and Mahindra & Mahindra also reported significant sales growth, while MG Motor India experienced a decline in retail sales.
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Hyundai sales dip 3.2% in July at 64,563 units
Money Control
·
11m ago
Medial
Hyundai Motor India reported a 3.2% decline in wholesale sales for July, with 64,563 units sold compared to 66,701 units sold in July 2023. Domestic dispatch of vehicles to dealers fell 3.3% to 49,013 units, while exports declined 2.81% to 15,550 units. However, the company noted an overall sales growth of 4.31% year-on-year from January to July 2024, with SUVs accounting for 66.6% of total domestic sales. The new Hyundai CRETA achieved 1 lakh unit sales and achieved its highest ever monthly domestic sales of 17,350 units in July 2024.
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Hyundai Discontinues Kona Electric Vehicle In India, Here's Why
Money Control
·
1y ago
Medial
Hyundai has discontinued its Kona electric vehicle in India. The decision was influenced by the introduction of smaller and more affordable electric SUVs in the market, reducing the Kona's market traction. The Kona, which had been on the market for five years without any updates, has been removed from Hyundai's official website. The move could make room for the upcoming Hyundai Creta Electric, which is currently in development. The Hyundai IONIQ 5 remains the sole electric vehicle in Hyundai's Indian portfolio. The Kona boasted a 39.2 kWh battery and a claimed driving range of 452 km.
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PV sales continue on upward trajectory in February
Money Control
·
1y ago
Medial
Passenger vehicle (PV) sales in India have continued to rise for the second consecutive month in 2024, with carmakers delivering approximately 373,177 units to dealers. This marks the highest auto wholesales for February in any year, driven by strong demand for SUVs, positive consumer sentiment, increased availability of waitlisted models, and new rollouts. Overall, PV sales have increased by 11.3% year-on-year, reaching a total of 3,859,000 units for the April 2023-February 2024 period. Maruti Suzuki India, Hyundai Motor India, M&M, Tata Motors, MG Motor India, and Toyota Kirloskar Motor reported positive sales growth.
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Hyundai Motor India hopes to close the gap with Maruti Suzuki sales with upcoming plants
Thehindubusinessline
·
1y ago
Medial
Hyundai Motor India (HMIL) plans to bridge the sales gap with Maruti Suzuki India (MSIL) by expanding its production capacity. HMIL currently sells around 50,000 units per month in the domestic market, while MSIL sells around 1.20 lakh units. To address this, HMIL will invest around ₹33,000 crore to increase its capacity to one million units and introduce new products. Additionally, HMIL is focusing on exports to West Asia, Africa, and Latin America, where there is growing demand for Indian-manufactured vehicles. In terms of product launches, HMIL recently introduced the sporty Hyundai Creta N-Line SUV in India.
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India growth story robust, not concerned about near-term pressures in auto industry, says Hyundai's Tarun Garg
Money Control
·
9m ago
Medial
Hyundai Motor Company sees great potential in the Indian market and believes it is outpacing other economies in terms of automotive industry growth, according to Tarun Garg, COO of Hyundai Motor India. Despite near-term pressures in the industry, Garg states that the Indian growth story is robust and the market rebounds quickly. Hyundai plans to launch three to four electric vehicles and establish a strong EV charging infrastructure. They also aim to localize the EV supply chain to gain a larger market share in the EV space.
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Hyundai Motor India's South Korean parent may sell stake via IPO
VCCircle
·
1y ago
Medial
South Korea's Hyundai Motor is planning to sell up to a 17.5% stake in its Indian unit through an initial public offering (IPO), aiming to raise up to $3 billion. The IPO, which could be India's largest ever, will involve Hyundai Motor India's South Korean parent selling part of its stake to retail and other investors. The move is expected to reduce Hyundai Motor India's reliance on its parent company for funds and enable it to expand in the Indian market.
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Hyundai starts setting the stage for India’s biggest IPO
Livemint
·
1y ago
Medial
Hyundai Motor Co. is planning to invite analysts to its manufacturing facility in Chennai as it prepares for India's largest initial public offering (IPO). Hyundai Motor India aims to file a draft red herring prospectus for its $3-3.5 billion IPO in June, with the goal of completing its share market listing ahead of Diwali. The IPO will enable Hyundai to enhance its market value and boost its valuation, in line with the South Korean government’s 'corporate value-up' programme. The move is seen as a sign of the potential for value-realization in India's passenger vehicle market.
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